PUTRAJAYA: The granting of subsidy to the wealthy is a mistake which needs to be corrected," said Deputy Finance Minister Datuk Seri Ahmad Maslan.

He said the present government is addressing the issue so that it is fair to the people, especially the B40.

"The rich do not need subsidy, so why are we according them the privilege?

"Which country in the world gives subsidies to the rich? It's a mistake," he told a media conference after launching the Sustainable Investment Standards Document (SIS) at the Finance Ministry here today.

Ahmad said the government is formulating the implementation of targeted subsidies so that the T20 will not be suddenly affected.

Earlier, Prime Minister Datuk Seri Anwar Ibrahim said those in the high-income group such as the T20 should not be receiving the benefit of electricity and haj subsidies.

Anwar said the Central Database Hub (PADU) will be used to manage and coordinate the distribution of subsidies to those eligible.

"Yesterday the Minister of Natural Resources, Environment and Climate Change, Nik Nazmi Nik Ahmad said in the Dewan Rakyat that the targeted electricity subsidy savings from January 1 to June is RM5.6 billion. With that amount, we can do various things for the people," said Ahmad.

-- BERNAMA