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  • 3 years ago
Prime Minister Datuk Seri Anwar Ibrahim said targeted subsidies are to be introduced in phases from next year with savings from subsidy rationalisation channelled to increase cash aid given under the Rahmah Cash Aid scheme from RM8bil to RM10bil in total.

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00:00 [Ramadhan]
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00:16 one billion ringgit, among the highest subsidies by any government in the world.
00:26 Therefore, there is a need to re-examine the steps and implementation.
00:37 The third is to provide subsidies for the people. This must be done in a wise way to avoid the increase in the cost of living and pressure.
00:53 But as I have emphasized before, subsidies are provided by the rich.
01:02 And 35 million foreigners now get all the benefits of the subsidies.
01:11 Therefore, we ask the people to understand the need to tighten the subsidies for the poor,
01:19 provided by the rich and 35 million foreigners who are left behind.
01:28 Therefore, starting next year, the approach to re-examine the subsidies will be implemented in a wise way.
01:37 If we can really save the cost of subsidies,
01:43 then I guarantee that we will increase the provision of cash assistance to the people.
01:51 The provision of cash assistance from 8 billion ringgit to 10 billion ringgit to almost 9 million people.
02:03 Since February 2022, the subsidies for eggs and chicken were introduced only during the holiday season.
02:14 But now, the government has provided 38 billion ringgit for the subsidies for eggs and chicken,
02:25 including the rich and 35 million foreigners.
02:31 So now, the price of eggs and chicken has become stable.
02:38 And thus, the government will consider, as it is estimated,
02:46 based on a lower price than the government's estimate.
02:53 This will be announced in a little while by the Ministry of Agriculture,
02:57 after consulting with the exporters and ensuring that there is no unbearable increase by the companies and businesses.
03:07 Unfortunately, concrete steps will be announced by the Minister in two weeks.
03:19 We have previously mentioned about the subsidies for electricity in bulk.
03:25 It is a burden and it benefits the rich.
03:28 I think it is unfair to say that the electricity tariff is being raised.
03:36 Because 90% of the population is not being raised.
03:41 For example, in 2022, 10% of the customers who use electricity
03:56 actually enjoy 50% of the subsidies.
04:00 This is not unfair. The subsidies are for the poor, middle and low-income people.
04:06 But 10% of the people get 50% of the subsidies.
04:11 And this is the government's decision to stop the subsidies for the rich.
04:18 According to the Ministry's research, this will save up to Rp 4.6 billion.
04:28 It does not raise the electricity tariff for 90% of the population,
04:33 but only ensures a 10% increase in the highest electricity usage.
04:41 And I do not insist that it is not for 90% of the users.
04:48 Because the total assistance for the electricity subsidy is almost Rp 20 billion.
04:59 This means that the subsidies will continue to be continued,
05:02 but will be reduced to the upper class.
05:07 [BLANK_AUDIO]

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