Anwar defends subsidy retargeting at National TVET Day event

KUALA LANGAT: The country saved billions when subsidies were retargeted, but the government still gets lambasted by the opposition, says Datuk Seri Anwar Ibrahim

The Prime Minister said subsidies are meant to assist the poor and not provide charity to the rich.

Anwar said this on Saturday (June 8) while officiating the National TVET Day at the Kuala Langat Industrial Training Institute here.

"The retargeting of subsidies does not mean we cancel subsidies altogether. We should give to the needy to the people to lower the prices of goods such as fuel for them.

"We retargeted the rebates for electricity and took away subsidies from big companies, the rich, and foreigners.

"I, too, have to pay the electricity bill of the Prime Minister's official residence at Sri Perdana, but 85% of Malaysians have not had their electricity rebates taken away. Only the ultra-rich and foreigners lost them. We saved RM4.5bil when we did that, but the opposition lambasted us.

"As for the lifting of the price control of the chickens, we did so as we realised that cartels profited from the annual RM1.2 bil subsidies. The chicken prices then floated, and even during the Hari Raya period, the prices did not go up. We saved RM1.2bil," said Anwar.

He also said that the retargeting of diesel subsidies meant that giant companies that make millions in profits, foreign fishermen, and diesel smugglers could not enjoy diesel at low prices.

Anwar said farmers, fishermen, and school bus drivers still have not lost their diesel subsidies.

He said that the billions saved from retargeting the subsidies would be used for programmes such as fortifying TVET courses for the youth.