PADANG BESAR: The targeted subsidy programme that the government is introducing is to ensure that the right group of Malaysians will receive assistance, says Datuk Seri Anwar Ibrahim.
The Prime Minister defended the move to implement targeted subsidies, saying its implementation is also to prevent foreigners and the rich from enjoying subsidies.
He said the same approach applies to electricity bills, where tariff increases are only imposed on 15% of the population such as the wealthy.
"The subsidies must be directed to 85% of the population. This can help increase their purchasing power and reduce their financial burden," he said during his speech at a buka puasa event at Felda Chuping here on Monday (April 1).
The Prime Minister also said oil prices have remained stable due to global market dynamics, geopolitical issues and the cost of production.
He said that despite promises to lower oil prices in Malaysia, any proposed changes must be carefully analysed.
He said subsidising petrol and diesel benefits Malaysian citizens and nearly 3.5 million to four million foreigners.
"It's crucial to target subsidies effectively. This may involve reevaluating subsidy distribution methods to prioritise assistance for those in need while minimising benefits for wealthier individuals and foreign nationals," he said.
