[UPDATED] Budget 2023: RM55 bil for subsidies, financial aid

KUALA LUMPUR – The government remains committed to providing subsidies, financial aid, and incentives to the people, pledging an allocation of RM55 billion for next year under Budget 2023.

Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz, when tabling the supply bill in Parliament today, said this will minimise the impact of the rising cost of living on the public. 

Among others, he said the government is committed to ensuring the prices of basic goods, such as rice, cooking oil, petrol, and diesel, will reach those residing in rural areas at an affordable price. 

However, the minister did not specify any plans for targeted subsidies, as has been rumoured previously.

Zafrul also said RM1 billion will be allocated to eradicate hardcore poverty by providing economic opportunities to 50,000 households. 

RM10 billion has also been allotted for Bantuan Keluarga Malaysia and the Welfare Department’s cash aid. 

This includes RM2,500 per household with five children or more and with an income of less than RM2,500, the highest handout by the government on record. 

The government’s Jualan Murah Keluarga Malaysia, which offers goods at 20% cheaper than market value, will also be continued into next year, with an additional allocation of RM100 million. – The Vibes, October 7, 2022