Call for clear strategy on targeted fuel subsidies

“However, the government should indicate a plan to reduce the subsidies so that everyone would know what to expect, going forward,” Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama.

KUALA LUMPUR: There must be a clear strategy to ensure that consumers and businesses will not be caught off guard should the government decide to implement a targeted fuel subsidy programme amid rising world crude oil prices.

“Timing is key but in reality, the exact or the right time to implement will remain unknown. At present, I do not think it is wise to cut the fuel subsidies. It will do more harm than good as the economic recovery is still at its nascent stage.