Two-week deadline for subsidy plan

PUTRAJAYA: Targeted subsidies are among the main issues discussed at the National Action Council on Cost of Living special meeting chaired by the Prime Minister.

Datuk Seri Anwar Ibrahim said a two-week time frame was given to government agencies to look into ways of addressing rising cost of living.

He added that it would include the proposal of targeted subsidies for lower-income individuals and improving incentives for the private sector.

“The subsidies must be targeted (for lower-income households).

“If not, even the rich ones will enjoy the subsidies. Therefore, I give two weeks to the government to study the implications of targeted subsidies while also discussing the matter with the private sector and investors.

“We will improve other services and incentives for companies to ensure that they’re also not burdened,” he said after chairing the meeting at Perdana Putra here yesterday.

Anwar also pointed out that for electricity tariffs, the same benefits were enjoyed by both lower and higher-income households.

He said that while the subsidy would continue, it would not make sense for the richest to receive the same.

“The electric tariffs that were presented previously benefit both the poor and the rich.

“That doesn’t make sense; it’s called subsidy but the benefit goes to someone else.

“The tariffs will continue but might not be for the people with higher incomes,” he added.

Also present at the press conference were Bank Negara governor Tan Sri Nor Shamsiah Mohd Yunus, Chief Secretary to the Government Tan Sri Mohd Zuki Ali and Domestic Trade and Consumer Affairs Ministry secretary-general Datuk Azman Mohd Yusof.

Anwar said the two-week deadline was given to the relevant agencies to draft a plan before presenting it to the Cabinet for approval, adding that rising cost of living was a pressing issue for lower-income individuals.

“When the Cabinet is finalised, we can study the proposals by the relevant ministries,” he said.

On the new Cabinet, Anwar said it would be announced in the next few days after discussions with the component parties in the unity government.

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

Next In Nation

EPF likely to declare 2023 dividends on March 3
KK City Hall keeps tabs on construction sites amid dry spell
Proposal mandating 70% halal purchases in Govt programmes to be tabled at KEB 2024
Badrul Hisham appointed as new NRD director general
MCMC and TikTok took down 8,071 undesirable videos, Dewan Rakyat told
Perak sets up panel to drive growth along West Coast Expressway
Over 26,000 business licences revoked since 2022 for breach of terms, Dewan Rakyat told
Ahmad Zahid proposes policy on Bumiputra economic development
Gone with the wild
East Ventures and Kadin Indonesia launched free web-based GHG calculator EOVISEA

Others Also Read