The Malaysian government is planning to implement targeted fuel subsidies starting next year. The subsidies will initially be applied to diesel, and will be extended to other types of fuel at a later date.
The decision to implement targeted subsidies was made during a meeting of the National Economic Action Council (MTEN) on Wednesday. The MTEN is a high-level government body that is responsible for coordinating economic policies.
The exact mechanism for implementing the targeted subsidies has not yet been announced. However, Domestic Trade and Consumer Affairs Minister Datuk Seri Salahuddin Ayub said that the government is working on an integrated database that will be used to coordinate data related to fuel consumption.
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Salahuddin said that the targeted subsidies are expected to be implemented by next year. He added that the government is committed to ensuring that the subsidies benefit the most vulnerable Malaysians.
The move to implement targeted fuel subsidies is a significant development. It is a sign that the government is aware of the rising cost of living and is taking steps to address it. The targeted subsidies are also a way for the government to ensure that the subsidies are used efficiently and effectively.
It remains to be seen how the targeted fuel subsidies will be implemented and how they will affect Malaysians. However, the move is a positive step and it is likely to be welcomed by many Malaysians.
Source: Government looking to implement targeted fuel subsidy for diesel and RON95 in 2024
