The prime minister added that savings from the rationalisation of subsidies of the fuel for certain groups, which began on Jun 10, would be channelled towards initiatives to help lower- and middle-income Malaysians.
Malaysia's Prime Minister Anwar Ibrahim at a recent press conference in Tokyo in May, shortly after his special address in Malaysia, where he announced the rationalisation of diesel subsidies. .SINGAPORE: Savings of RM4 billion from Malaysia’s diesel reforms will be used to fund public transport and cash aid, said Prime Minister Anwar Ibrahim, as the country puts a brake on subsidies of the fuel.
The STR cash contribution provides financial assistance to Malaysia’s low and middle-income households. In his speech, Mr Anwar noted that the cost of the STR had risen to nearly RM10 billion as the number of recipients had reached nine million people. The Finance Ministry also said in a statement on Sunday it will begin setting diesel fuel prices to align them with market prices.Those in the Borneo states of Sabah and Sarawak, where the use of diesel vehicles is widespread, would be exempt from the reforms, he said.
To ease the impact of the reforms, the government also introduced the Budi Madani cash aid programmes, where around 30,000 eligible recipients would receive RM200 in their respective accounts, according to the New Straits Times.
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