The government saved RM20 billion through targeted subsidies

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KUALA TERENGGANU – The implementation of targeted subsidies is expected to save up to RM20 billion a year to the government.

Chairman of the National Recovery Council (MPN), Tan Sri Muhyiddin Yassin said, the savings will be channeled back to the target group, which is the less able (B40).

“So far, all including non-citizens have enjoyed subsidies allocated by the government with only 20 percent actually being used by the B40 group.

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“The rest is also enjoyed by the non-deserving including the rich (high-income or T20),” he said after holding a meeting with fishermen at the Malaysian Fisheries Development Board (LKIM) Chendering Port here today.

Accordingly, Muhyiddin recommended the government to speed up the implementation of targeted subsidies.

He explained that it is believed to be one of the best approaches to help reduce inflationary pressure among low-income groups.

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“The government needs to examine the implementation mechanism of the targeted subsidy to ensure that it really reaches the designated groups,” he said.

Earlier, the Prime Minister, Datuk Seri Ismail Sabri Yaakob was reported to have told Parliament recently that the government is drafting a targeted subsidy mechanism. – COSMO! ONLINE

Source: Cosmo Online

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