Anwar to present details on implementing targeted subsidies in Budget 2024

Prime Minister Datuk Seri Anwar Ibrahim

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said details on the implementation of targeted subsidies will be presented during the upcoming second Madani Budget in Parliament next month.

Anwar, who is also the finance minister, assured that any subsidy rationalisation would not burden the middle and lower-income groups.

"This is because any adjustment that burdens them will certainly increase the burden already borne by the poor,” he said when winding the debate on the Mid-Term Review of the 12th Malaysia Plan in the Dewan Rakyat today.

Anwar also said he would present details on taxation issues and increasing national income in the Madani Budget to enable the government to spend according to its capacity.

Regarding tax exemption on the materials used in batik production, the prime minister said the government has provided import duty exemption on white silk, rayon and voile fabric, as well as white cotton fabric.

He added that the import duty exemption can be claimed from the Customs Department. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!


Next In Business News

Japan maintains warnings against sharp yen falls
Oil prices fall on lingering Chinese demand concerns
FBM KLCI turns negative, returns below 1,630
MAA raises 2024 vehicle sales estimate to 765k
BMI forecasts positive consumer spending growth in Malaysia
WCT shares jump 8% on Kwasa Land job
Ringgit rebounds to open higher vs US$
Citaglobal shares climb 10% on news of partnership with SUS
FBM KLCI crosses 1,630 hurdle as rally continues
Fed's Powell: Latest data 'add somewhat to confidence' inflation is returning to 2%

Others Also Read