Rising cost for stable prices

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the projected consumption subsidies for this year will cover petrol, diesel, liquefied petroleum gas (RM37.3bil), cooking oil (RM4bil), flour and electricity to reduce the people’s cost of living, and subsidy bills (RM9.7bil), excluding welfare assistance from 2018 to 2022.

PETALING JAYA: Malaysia’s total subsidies, which is set to hit a record high of nearly RM80bil this year, will come at a necessary cost as the government strives to curb the rising cost of living.

Given the current economic environment, Malaysia University of Science and Technology professor Geoffrey Williams said the need to increase subsidies is justified, but only as a short-term measure.