The government is still in the midst of formulating its proposed targeted subsidy mechanism, and it may be a while before anything is announced. According to prime minister Datuk Seri Anwar Ibrahim, this was because coming up with the mechanism is a complex undertaking and that its implementation would be no walk in the park, as The Star reports.
He added that while various mechanisms were being explored, nothing concrete has yet come about. “There is a team working on it now and there have been some proposals. But we are not too convinced in terms of its effectiveness after the implementation because it is very complex,” he said.
“With electricity, you can identify the house or factory, so it is okay. For diesel, sometimes it is the driver driving, or sometimes they use different cars by changing to small cars or big (expensive) cars,” he added.
Given the complexity of the undertaking, Anwar said he did not want to make any promises as to when the targeted subsidies would be announced, but added that the government was working on it as fast as possible. “It is it is not a simple thing. If the mechanism is ready, the government is willing to roll it out tomorrow,” he explained. It has been previously reported that targeted fuel subsidies would begin with diesel from next year.
Getting the parameters right to ensure that the subsidies are delivered to the right parties is paramount, he said. “A targeted subsidy means it is for the people who need it, not for the very rich. For example, subsidies for the haj and electricity benefit even the rich, when they should ideally go to the deserving lot,” he said last week.
Last month, deputy finance minister Datuk Seri Ahmad Maslan had said the implementation framework for targeted subsidies was currently 75% complete, and that there were just a few issues left to be resolved, one of which is the method of implementation.
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AI-generated Summary ✨
Comments express mixed reactions to targeted subsidies, emphasizing the complexity of implementation and potential economic impacts. Some believe removing subsidies and reallocating funds could boost the economy and improve public transport, while others worry about delaying the process or unfairly penalizing certain groups like T20. Several comments criticize the government's slow progress and suggest that proper management and transparency are crucial. Overall, there are concerns about policy effectiveness, economic fairness, and potential political consequences.