The Finance Ministry is studying new forms of providing the 1Malaysia People’s Aid (BR1M) which may be introduced by 2015.

NONE “We are undertaking a few studies on how to continue with the BR1M and in  what form. We hope by 2015, we can introduce a new model and link it to the government’s subsidy rationalisation,” said Second Finance Minister Ahmad Husni Hanadzlah ( right ).

He was speaking to reporters after launching the Intellectual Property Financing Scheme in Kuala Lumpur today.

The new subsidy models would be more effective compared with the present  format practised by the government.

“This is the adjustment period,” he said, adding that over the long-term,  it is the government’s aspiration to help the people enjoy higher salaries and not just BR1M or book vouchers for students.

Such salary adjustments were in line with the government’s Economic Transformation Programme, he said, adding that measures currently undertaken by the government included the development of high-tech industries which would create more jobs and increase household incomes.

Meanwhile, the Finance Ministry, in a statement, said it would disburse RM4.6 billion for BR1M in 2014, benefitting 7.9 million recipients.

In 2013, the government gave out RM2.9 billion to 6.8 million people.

- Bernama