PUTRAJAYA (ANN/THE STAR) – In a bid to demonstrate resolute political determination, Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim defends the government’s recent decision to implement targeted fuel subsidies. He assures the public that the savings generated by this initiative will be reinvested in them.
Emphasising that these savings won’t be utilised to augment ministers’ allowances or privileges, the Prime Minister underscores that they will instead be redirected towards subsidies, cash assistance, and other forms of aid for the populace.
Anwar reaffirms that the RM4 billion saved through the rationalisation policy will be allocated to cover expenses related to public transportation, school buses, support for fishermen and small-scale farmers, as well as direct cash assistance to citizens.
Highlighting that discussions on fuel subsidy rationalisation date back to his tenure as Finance Minister in the late 1990s, Anwar acknowledges the complexity of such decisions, often necessitating careful consideration of their political implications before implementation.
“At the Finance Ministry’s monthly gathering yesterday,” he stated, “subsidy rationalisation and tax hikes will undoubtedly burden politicians.”
In his capacity as both Finance Minister and Prime Minister, Anwar stressed the necessity of such policies to prevent the squandering of public funds on the affluent, foreigners, and large industries. He clarified that the government’s actions are not discriminatory but rather fulfil its obligation to the majority.
Anwar outlined three significant government initiatives – electricity tariff adjustments, deregulation of chicken prices, and targeted diesel subsidies – estimated to save around MYR10 billion annually.
He assured that those affected by diesel subsidy adjustments could seek assistance, citing examples such as subsidising vegetable farmers in Cameron Highlands to mitigate price increases and ease the burden on citizens.
Acknowledging the unpopularity of the decision, Anwar defended targeted diesel subsidies as essential for fiscal prudence and leak prevention.
Despite facing criticism, particularly in areas like Sungai Bakap with impending by-elections, Anwar affirmed the government’s commitment to improving facilities, infrastructure, and tackling leakages, even at the cost of political security.
Expressing his dedication to the nation’s welfare, Anwar rejected the notion that all politicians are self-serving, pledging to elevate Malaysia’s reputation through teamwork and proactive governance.
He affirmed his resolve to remain in office and champion righteous causes until the country reaches its full potential, while ensuring a fair and transparent market by floating diesel prices based on market dynamics.
For Peninsular Malaysia, diesel prices now fluctuate weekly based on market rates, while Sabah, Sarawak, and Labuan retain subsidised rates.
