Malaysian PM: targeted subsidy mechanism being formulated
Malaysian Prime Minister Datuk Ismail Sabri Yaakob has affirmed that a suitable mechanism of action for the implementation of targeted subsidy is being formulated to ensure that the assistance provided by the government will be received by the deserving groups.
Malaysian Prime Minister Datuk Ismail Sabri Yaakob (Photo: VNA)
Kuala Lumpur (VNA) – Malaysian PrimeMinister Datuk Ismail Sabri Yaakob has affirmed that a suitable mechanism ofaction for the implementation of targeted subsidy is being formulated to ensurethat the assistance provided by the government will be received by thedeserving groups.
He said at the Dewan Rakyat (House ofRepresentatives) sitting on July 18 that various aspects of the mechanism needed to be fine-tuned so that the allocation set aside by the government to help thepeople of the country did not end up being arbitrarily enjoyed by irresponsibleparties, including foreigners.
Ismail Sabri said the government is also in themidst of combating smuggling activities involving subsidised items, such ascooking oil, at the industrial level and at national borders.
To combat smuggling activities at the borders, hesaid the government had ordered the Royal Malaysia Police and the Armed Forcesto be involved, apart from the enforcement team from the Ministry of DomesticTrade and Consumers Affairs.
Elaborating, Ismail Sabri said in order to helpMalaysian families cope with the rising cost of living, the government hadallocated subsidies of over 77 billion RM (17.5 billion USD), compared to theoriginal allocation of 31 billion RM, for 2022.
The PM said the subsidies given by thegovernment had also caused the country’s inflation rate to be at 2.8%, thelowest in Southeast Asia./.
The total amount of subsidies for Malaysian people is expected to reach near 80 billion RM (nearly 20 billion USD) in 2022, according to Malaysian Minister of Finance Zafrul Tengku Abdul Aziz.
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Malaysian Prime Minister Datuk Ismail Sabri Yaakob (Photo: VNA) 
