Meanwhile, David Warner, who carries one of the largest bats in the game, insisted that an innovative bat was a credit to its maker.
The MCC committee, who has Ponting as one of its members, agrees with the former Australian captain and even added that bigger bats can be a safety concern.
"The overwhelming (but not unanimous) view of the committee was that it has become too easy for batsmen to clear the boundary in all forms of cricket, even with mis-timed shots," it said.
"Furthermore, it was felt that there is a clear safety concern for close fielders, bowlers and umpires, whilst the recreational game is also suffering, as balls are flying into nearby residential properties with increasing frequency, thus threatening the existence of some smaller cricket clubs.
"The time has come to restrict the size of bat edges and the overall width of bats," Mike Brearley, the former England captain who heads the committee, told Wisden India after the meeting was over.
"It was pointed out to us that, in 1905, the width of bats was 16mm and that, by 1980, it had increased to 18mm. It is now an average, in professional cricket, of 35-40mm and sometimes up to 60mm. That shows how fast the change has been."
Rodney Marsh, Brearley's fellow committee member and the head of Australia's selection panel, said, "The one thing we don't want to see is batsmen unable to hit fours and sixes. That's so far from what will happen. But when you see a guy try to hit the ball through midwicket and it flies for six over cover, you know something is wrong."
The committee suggested that the amended law should be included as part of a revamped Laws of Cricket and be scheduled for introduction in October 2017, pending further discussion with other stakeholders.
The committee is an independent body chaired by Mike Brearley, the former England captain, and includes the likes of Ponting, Sourav Ganguly, Rameez Raja and Charlotte Edwards.