Targeted subsidy is the way to go

THE government’s announcement of a plan to implement targeted fuel subsidies for those in the B40 group is lauded. We urge the government to speed up the implementation because, contrary to what some consumers may think, blanket subsidies come from taxpayers. It is therefore not advantageous to Malaysia or the people.

In fact, the war in Ukraine is a wake-up call for Malaysia. It resulted in the Brent crude oil index exceeding US$130 per barrel in early March, the highest in 14 years, and the price has stayed well above US$80 per barrel till now.