KUALA LUMPUR: Malaysia was right in reducing fuel subsidies but some form of “targeted relief” should be given to the poor, said Manila-based Asian Development Bank managing director-general Rajat M. Nag.
If the subsidies had not been reduced, it would have “built up pressure” in the economy which would have led to a fuel price shock at a later stage, he said while speaking on the topic of “Global Risks on Asia's Agenda” at the World Economic Forum on East Asia here yesterday.
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