KUALA LUMPUR, May 16 — The implementation of targeted fuel subsidies should take into account reasonable household living expenses to ensure the aid reaches those who genuinely need it.
KUALA LUMPUR, May 16 — The implementation of targeted fuel subsidies should take into account reasonable household living expenses to ensure the aid reaches those who genuinely need it.
Economy Minister Akmal Nasrullah Mohd Nasir said the subsidy mechanism should not rely solely on income categories, as households face varying financial commitments and cost-of-living pressures.
He said the key challenge lies in determining the most appropriate threshold to use, noting that economic well-being cannot be assessed based on income alone but must also consider essential expenses and other relevant factors.
“We do not want to create classifications that can be debated from different perspectives because economic conditions are not measured solely by income, but also by reasonable basic expenses and other related factors,” he said.
Akmal Nasrullah was speaking to reporters after the launch of a strategic collaboration between the Economy Ministry and the Federal Territories Islamic Religious Council (MAIWP) under the People’s Income Initiative–Food Entrepreneur Initiative (IPR-INSAN), officiated by Minister in the Prime Minister’s Department (Religious Affairs) Dr Zulkifli Hasan in Kuala Lumpur today.
He said the ministry is currently refining the subsidy targeting mechanism as part of efforts to strengthen fiscal management, particularly in relation to diesel subsidies.
“As long as unresolved conflicts persist, the burden will continue to be shared by all of us. That is why mitigation and intervention measures are introduced from time to time,” he said.
Commenting on the potential impact of a meeting between United States President Donald Trump and Chinese President Xi Jinping on the global economy, Akmal Nasrullah said the ministry remains focused on reinforcing Malaysia’s domestic economic resilience.
“Whatever developments are taking place globally, we certainly hope the situation will stabilise. For Malaysia, our priority is to ensure the continued supply of fuel and other essential goods.
“We are doing our best to maintain our resilience, but it is beyond me to comment further on the matter at this stage,” he said. — Bernama
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