The government's deregulation package, though far from satisfactory in scale and content, enshrines some important steps signaling greater reform in the future, according to Ushio Chujo, a professor of public economics at Keio University.

"I would give it 10 marks out of a possible 100," Chujo said, sizing up the final version of the three-year government deregulation program announced Mar. 28. With the addition of 890 new measures, the program now includes 2,823 deregulatory steps meant to bring about a radical structural reform of the nation's economy. "There are some 10,000 items currently subject to various government authorization or licensing. So, I might as well give (the program) 30 marks," Chujo said.

Intrinsically, he said, deregulation should be carried out in far greater scope and focus on deeper problems, which would mean privatizing or introducing market mechanisms for public management systems. Having said that, however, Chujo maintains that the package contains some significant steps -- notably in the transportation and financial sectors -- which may lead to greater reform in other sectors.