targeted subsidy

As Malaysia prepares to roll out a targeted RON95 subsidy scheme next year, experts are raising concerns about implementation challenges.

Non-citizens, the commercial sector, and smuggling activities make up around 40 pct of total petrol consumption, current data shows.

The main point here is the (targeted) subsidies should not burden the 85 pct of the population, says PM Datuk Seri Anwar Ibrahim.

According to MoF, the official 2024 forecasts for inflation and GDP growth remain at 2.0-3.5 per cent and 4.0-5.0 per cent, respectively.

The government decided to lower chicken egg prices nationwide by 3 cents each to pass on targeted subsidy savings to the public.

Datuk Armizan Mohd Ali said the companies were called up to explain the justification of their action.

Shan Saeed said more countries are now removing subsidies and move to a more market-driven approach.

The funds from the targeted subsidy are not for increasing ministerial allowances or other interests, said Datuk Seri Anwar Ibrahim.

Datuk Seri Amir Hamzah Azizan said the fixed price and targeted diesel subsidy implementation would see the govt save RM4 billion per year.

Datuk Seri Anwar Ibrahim said it was normal for PM to announce policy and relevant minister to provide details and follow-up actions later.

The targeted subsidy will not involve consumers in Sabah and Sarawak as it was used in nearly every family's vehicle in both states.

Implementing the subsidy retargeting programme by the end of 2024 would immediately translate into a better fiscal position for the country.

Datuk Seri Anwar Ibrahim said the implementation of targeted subsidies aims to ensure that only deserving individuals can benefit from it.

Issues on targeted subsidy, prices of goods and food security are among matters to be raised in Parliament today.

The database from the RTD is one of the elements that the government will use in identifying targeted subsidy recipients involving petrol.

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