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Budget 2024: temporary price control for chicken, eggs to be lifted | Scoop
Prime Minister Datuk Seri Anwar Ibrahim says the price control set for chicken and eggs will be lifted as supplies have stabilised and market prices have fallen below the ceiling price. – Abdul Razak Latif/Scoop pic, October 13, 2023
News

Budget 2024: temporary price control for chicken, eggs to be lifted

Move aims to restore freedom of local market to function efficiently, guarantee supply security

Main Author Image
Adam Ayzzat
Updated
5:11 PM MYT

 

KUALA LUMPUR – The temporary price control set for chicken and eggs will be dropped, said Prime Minister Datuk Seri Anwar Ibrahim.

In tabling Budget 2024 in the Dewan Rakyat this afternoon, Anwar, who is also finance minister, said this is so that the local market can once again function freely, ensuring supply security in the market.

“Announcements related to further concrete steps will be made by the Agriculture and Food Security Ministry within two weeks,”

Anwar said this comes after the supply of chicken and eggs has begun to stabilise and the current market price is below the controlled ceiling price.

He added that the government had borne RM3.8 billion for chicken and egg subsidies since February 2022 to control the skyrocketing prices of chicken and eggs as well as address supply shortages.

Beginning next year, Anwar said the re-targeting subsidy approach will be done in phases.

Anwar said the announcement comes after the subsidies were seen to benefit the affluent community more, while the lower prices led to leakages and smuggling to foreign countries. 

He added that the subsidies were also enjoyed by 3.5 million foreigners. – October 13, 2023

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