Malaysian PM: targeted subsidy mechanism being formulated

Malaysian Prime Minister Datuk Ismail Sabri Yaakob (Photo: VNA)

Kuala Lumpur (VNA) – 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.

He said at the Dewan Rakyat (House of Representatives) 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 the people of the country did not end up being arbitrarily enjoyed by irresponsible parties, including foreigners.

Ismail Sabri said the government is also in the midst of combating smuggling activities involving subsidised items, such as cooking oil, at the industrial level and at national borders.

To combat smuggling activities at the borders, he said the government had ordered the Royal Malaysia Police and the Armed Forces to be involved, apart from the enforcement team from the Ministry of Domestic Trade and Consumers Affairs.

Elaborating, Ismail Sabri said in order to help Malaysian families cope with the rising cost of living, the government had allocated subsidies of over 77 billion RM (17.5 billion USD), compared to the original allocation of 31 billion RM, for 2022.

The PM said the subsidies given by the government had also caused the country’s inflation rate to be at 2.8%, the lowest in Southeast Asia./.

VNA