KUALA LUMPUR – Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz reiterated that the mechanism for a targeted fuel subsidy system would be a holistic solution to ensure the execution is seamless.
He said the government is in the process of selecting the mechanism and that it will be presented to cabinet soon.
“Work in progress…we want to give people the choice on the platform used so that the B40 and M40 income groups do not miss out,” he told reporters after the EPF i-Lindung insurance and takaful facility launch ceremony here today.
He said credibility and confidence are important in executing the system, as it would be a major exercise covering the entire country, which would also provide savings, especially from the T20 income group.
“The implementation depends on the cabinet and the prime minister. The ministry will ensure it will have the right solution and work together closely with the Domestic Trade and Consumer Affairs Ministry.
“If the system works, the sooner, the better it is,” Tengku Zafrul added.
Previously, the government had estimated that subsidies for this year will reach RM77.7 billion, meaning that the fuel subsidy will reach RM30 billion. – Bernama, July 12, 2022
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