‘Subsidy rationalisation vital to help low-income groups’

Current petrol subsidies predominantly benefit wealthier individuals who can afford the full price and fail to effectively support low-income groups. – BERNAMAPIC

He said high subsidies limit the government’s ability to allocate funds more effectively, often necessitating increased borrowing. “By reducing or eliminating these subsidies, significant savings can be redirected towards essential services such as health, education and social protection, benefiting the broader population.”

Williams said it is better to implement the RON95 rationalisation as it aligns with broader fiscal policies and economic development goals by promoting efficient resource allocation and fiscal discipline. Global Labour Organisation Southeast Asia Lead and economist Prof Niaz Asadullah emphasised the need for more precise aid at this juncture as the government has finished setting up the Central Database Hub.

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