Subsidies on sugar have been slashed by 25sen, LPG by 10sen, diesel and RON95 petrol by 5sen, and RON97 petrol subsidies will be abolished. Total estimated annual savings will be RM750million – or about approximately 1 week’s average government borrowing.
Read the full news and press statement here (BM version here).
All I can say is…it’s about time. There’s both a fiscal issue here (which is frankly comparatively minor, based on the scale of the savings) and a political credibility issue. Nice to see things finally moving.
Posts
No comments:
Post a Comment