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Malaysia’s subsidies expected to exceed RM81 bil this year: Anwar | Scoop
Prime Minister Datuk Seri Anwar Ibrahim said the rationalisation of subsidies is important to ensure the people receive assistance while the country’s economy remains strong. – Scoop pic, October 4, 2023
News

Malaysia’s subsidies expected to exceed RM81 bil this year: Anwar

The prime minister said that reducing subsidies is not an option, considering the current cost of living faced by the public

Bernama
Updated
10:55 PM MYT

 

KOTA KINABALU – The subsidies given by the government to the people throughout the country including electricity, fuel and food is expected to exceed RM81 billion this year, according to Prime Minister Datuk Seri Anwar Ibrahim.

He said even though the figure is seen as high, reducing the total subsidy without looking at the needs of the people is not a choice the government can make, to ensure the people are not burdened especially by the current cost of living.

Therefore, he said the rationalisation of subsidies being implemented by the government is important in ensuring the people receive assistance while the country’s economy remains strong.

“Subsidy is an intervention by the government to ease the people’s burden. Subsidies for chicken and eggs amounted to RM3.8 billion but reducing the subsidies would not an option as it will raise the cost of living to the people, therefore a more resilient policy is needed to reduce (subsidies) which is the rationalisation of subsidies.

“With such a (high) amount of subsidies, no country can survive, some will lessened,” he said while launching the Islamic Affairs Management Convention in conjunction with the 2023 Ijtimak Perdana Agensi Agama Seluruh Malaysia (IJPAM) at the Sabah Intrnational Convention Centre tonight.

Also present were Sabah Chief Minister Datuk Seri Hajiji Noor, Sabah, Sarawak Affairs and Special Functions Minister Datuk Armizan Mohd Ali, and Religious Affairs Minister Datuk Dr Mohd Nai’m Mokhtar.

IJPAM 2023, held from September 30 to tomorrow, saw the participation of 1,837 attendees from diverse Islamic affairs agencies at both the federal and state levels.

Anwar said that as part of rationalisation measures, the electricity subsidy for the wealthiest one percent of the population has been abolished. However, this change is not expected to be burdensome since it will not impact 99% of the population.

The Prime Minister also recently directed Tabung Haji (TH) to conduct a comprehensive review of all subsidies provided for the wealthy performing Hajj to ensure that these subsidies can be reallocated to assist those in need.

“In this rationalisation effort, I urge the Muslim community to understand that withholding subsidies from the wealthiest pilgrims to support others is a well-received initiative.

“In fact, approximately 400 eligible pilgrims voluntarily declined the Hajj subsidy to alleviate the financial burden on their fellow pilgrims,” he said. – October 4, 2023

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