Mr Anwar said this issue had been discussed for years.
Malaysia cut diesel subsidies and floated retail pricesMr Anwar said this issue had been discussed for years and prime ministers before him had also agreed that subsidy rationalisation must be implemented.
Addressing the Finance Ministry’s staff at a monthly gathering, Mr Anwar, who is also Finance Minister, said implementing targeted subsidies for diesel meant that the majority of the people would continue to enjoy it while the wealthy, foreigners, and major industries would not benefit from the subsidy.
He said back then, oil prices in Saudi Arabia might have been around 50 sen while Malaysia’s prices were around RM1.50. “Those who are impacted by the diesel subsidy rationalisation can appeal for assistance. For instance, the vegetable farmers in Cameron Highlands will also be given subsidies so that they will not have to raise prices of goods and burden the people,” he said.Aware that not many leaders would want to take an action which is deemed unpopular, Mr Anwar said he only wanted the best for the country.
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