‘GST helps cut reliance on oil revenue’

KUALA LUMPUR: The cutting of fuel subsidies and implementation of the Goods and Services Tax (GST) are among measures taken to reduce the nation’s dependence on oil and gas revenues, the Prime Minister said.

While reducing fuel subsidies has freed up more than RM20bil in ­annual spending that will go towards the country’s ­development, Datuk Seri Najib Tun Razak (pic) said the introduction of the GST last month would further diversify the Government’s revenue.