Anwar Addresses Nation In Live Telecast, Says Targeted Subsidy To Begin With Diesel
After listing the Madani government’s many wins over the past year, Anwar Ibrahim said diesel will be the first in the move to implement targeted fuel subsidies.
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Prime Minister Datuk Seri Anwar Ibrahim addressed the nation in a live telecast tonight.
His address was to enlighten the people on the present state of Malaysia’s economy.
Anwar began by listing the successes of the Madani government which included an economic growth at 4.2% in the first quarter of 2024.
After listing the success stories, Anwar said the Cabinet in a meeting today agreed to implement targeted subsidies on fuel which will begin with diesel.
For starters, the targeted subsidy for diesel will only involve the Peninsular and not Sabah and Sarawak.
To curb any sudden surge in the prices of goods and services, Anwar said the government will provide diesel subside to traders using diesel-powered commercial vehicles involving 10 types of public transportation as 23 types of cargo carrying vehicles under the Subsidised Diesel Control System or SKDS.
This will also include bus and taxi operators.
“The government will also give diesel subsidy to fishermen in certain categories,” he said.
The government will also provide cash aid to diesel-powered vehicle owners who qualify including small farmers, paddy farmers and petty traders.
“This cash aid will definitely not benefit the T20,” Anwar emphasised.
Anwar estimates that the government will roughly save about RM4 billion a year with the targeted subsidy for diesel.
He did not however provide a date on when this will come into effect, saying that further details will be provided later by the relevant ministry.
Anwar stressed that targeted fuel subsidies is not a full repeal of subsidies as claimed by certain quarters.
“Just like the targeted subsidies implemented for water and electricity, a majority of the people will not feel the pinch and will continue to enjoy the benefits of government subsidies,” he added.
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