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Govt to remove subsidies gradually, says Treasury sec-gen
Removing all subsidies at once would increase the cost of living and stunt the growth of businesses and investments, he said.
He added that the government is looking at lifting...
BUDGET 2024 | The government will not abolish subsidies at one go but do so through a gradual process, said Treasury secretary-general Johan Mahmood Merican.
Removing all subsidies at once would increase the cost of living and stunt the growth of businesses and investments, he said.
He added that the government is looking at lifting several temporary subsidies in a gradual manner.
“As the prime minister has explained during the tabling of Budget 2024, one of the plans is the withdrawal of chicken and egg subsidies after taking into account the stable supply situation.
“The government is also continuing with targeted subsidies for electricity and diesel,” he said.
He was speaking to the media after a post-Budget 2024 debate organised by the Malaysian Economic Association and the University of Malaya Faculty of Business and Economics yesterday.
The debate provided a platform for the Finance Ministry to explain how the measures in Budget 2024 are expected to foster economic growth.
Earlier, Prime Minister Anwar Ibrahim announced that subsidies need to be targeted so that leakages can be avoided and to ensure only eligible citizens benefit from them.
- Bernama
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