$17bn earmarked to subsidise essentials: Malaysian PM

$17bn earmarked to subsidise essentials: Malaysian PMOctober 5, 2023

Kuala Lumpur, Oct 5 (IANS) The Malaysian government will earmark 81 billion ringgit ($17.1 billion) to subsidiSe essential items including electricity, fuel and food, Prime Minister Anwar Ibrahim said

While the figure is seen as high, Prime Minister Ibrahim said reducing the subsidy without looking at the needs of the people is not an option of the government, which must ensure the people are not burdened, especially by the current cost of living, reports Xinhua news agency.

“Subsidies are an intervention by the government to ease the people’s burden. Subsidies for chicken and eggs are amounting to 3.8 billion ringgit but reducing them will raise the cost of living.

“Therefore, a more resilient policy is needed to reduce subsidies, which is the rationalization of subsidies,” he said.

–IANS

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https://ians.in/detail/over-17bn-earmarked-to-subsidise-essentials-malaysian-pm–20231005144819/