Potential RM25bil revenue from fuel taxes

One of the effective ways to address the budget deficit is to cut fuel subsidies by increasing petrol prices gradually to be aligned with market prices and thereafter imposing taxes on fuel, said Datametrics' Pankajkumar. — Bloomberg

PETALING JAYA: The government needs to be bold and brave in terms of implementing strategies and reforms to tighten the fiscal screws in the upcoming Budget 2024, says Pankajkumar Bipinchandra, who is managing director of Datametrics Research and Information Centre.

One of the effective ways to address the budget deficit is to cut fuel subsidies by increasing petrol prices gradually to be aligned with market prices and thereafter imposing taxes on fuel.