THE government has allocated over RM20 billion this year for subsidies aimed at supporting consumer goods, Ministry of Domestic Trade and Cost of Living said today.
This allocation includes funding for essential fuel subsidies, which are expected to continue benefiting the majority of Malaysians.
In a written parliamentary reply on Thursday, February 27, Minister Datuk Armizan Mohd Ali outlined how these subsidies are part of the government's ongoing efforts to mitigate the rising cost of living and provide financial relief to citizens.
The funding will cover various areas of consumer support, including both direct subsidies and cost-of-living initiatives.
“One of the key components of this allocation is the continued fuel subsidies, which will remain in place to ease the financial burden on the majority of Malaysians,” the Minister explained.
The Payung Rahmah initiative, which provides targeted assistance to lower-income groups, has also been allocated RM300 million, reflecting an increase of RM100 million compared to last year’s budget. This initiative aims to provide further support to those most in need.
“RM300 million has been allocated for the Payung Rahmah initiative, representing an increase of RM100 million compared to 2024, to enhance the support offered to vulnerable groups,” Armizan added.
Furthermore, the government has earmarked RM700 million to diversify various cost of living programs, including price control measures designed to stabilize the cost of essential goods.
Additionally, RM250 million has been allocated to address the disruption of essential supplies in rural and remote areas, particularly in Sarawak and Sabah.
“A total of RM700 million will be allocated to broaden the scope of cost-of-living programs, including price controls, and RM250 million will be used to address supply disruptions in rural and interior regions, especially in Sabah and Sarawak,” Armizan noted.
The Minister said the primary goal of these subsidies is to stabilize prices, which will help alleviate the financial strain on households, particularly those most affected by inflation and rising costs.
“The purpose of these subsidies is to stabilise the price of essential goods, easing the burden on those most affected by the rising cost of living,” he explained, reaffirming the government's commitment to safeguarding the well-being of the people.
Armizan’s comments were made in response to a question from Datuk Siti Zailah Mohd Yusoff, the Member of Parliament for Rantau Panjang (PN-Rantau Panjang), who had inquired whether the government plans to reintroduce subsidies for rice and cooking oil as part of efforts to assist those struggling with the cost of living.
The continued subsidy allocation, along with the targeted programs, underscores the government's ongoing commitment to supporting its citizens in managing the economic challenges they face. – February 27, 2025
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