Malaysian PM Anwar Ibrahim plans to cut diesel subsidies, saving $852M annually, shifting to targeted aid for low-income groups.
Malaysian PM Anwar Ibrahim announced plans to cut diesel subsidies, saving approximately $852 million (4 billion ringgit) annually, as the country moves away from blanket subsidies to a targeted system benefiting low-income groups. The savings will be redirected to assist the needy, including cash aid for eligible diesel vehicle owners like paddy farmers and small traders. The diesel subsidy reform will initially affect consumers in Peninsular Malaysia, with further details to be announced later.
May 21, 2024
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