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Friday, February 17, 2017

RM10 billion in subsidies given this year

Subsidies are for the needy and that's why subsidies and incentives should be given based on targets, says PM.
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KUALA LUMPUR: The government has allocated nearly RM10 billion in subsidies and incentives for various sectors this year.
This amount has been increasing annually, said Prime Minister Najib Razak today.
He said the allegation by certain quarters that the government was insensitive and had done away with subsidies was untrue.
Instead, the government always strives to ease the burden of the people by focusing on the target groups.
“The government continues to provide subsidies annually, and the quantum has continued to rise in tandem with world market prices,” he said in a post today on his blog, najibrazak.com.
Najib said that in the agricultural sector, the government provided RM1.3 billion to boost padi production and help the farmers.
For rubber tappers, the government provided RM510 million in subsidies and incentives, including aid to tide over the monsoon season.
“For the fishermen, the government provided RM260 million as cost of living allowance.
“Not only that, the government is subsidising cooking gas at RM1.6 billion this year and electricity usage at RM124 million,” said Najib, who is also finance minister.
The prime minister said this year, the government also paid compensation to toll concessionaires to prevent any rise in toll charges.
“All these are done to ease the people’s burden and grow the local economy,” he said.
Najib said subsidies and incentives were an important aid for the people and for a developing country.
“However, basically, subsidies are for the needy.
“That’s why subsidies and incentives should be given based on targets and not as bulk,” he said. -FMT

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