PM explains rationale behind cheaper eggs

Prime Minister Anwar Ibrahim has explained the rationale behind the government’s decision to use subsidy rationalisation savings to lower the price of eggs by three sen.

At the same time, he indicated that he would pursue other means of repurposing the savings that could help ease the public’s burden.

In a speech at an Aidiladha event in Penang today, Anwar said a study found that eggs were the most consumed by Malaysian families, especially lower-income households that can consume around four eggs per day.

“So we called the companies... (asked them) to lower their profits to help ease the (people’s) burden.

“Hence my announcement of lower egg prices yesterday, because eggs are the most consumed (item) by families at the bottom.

“If there are other ways (to help with subsidy savings), I will make the effort," he added.

Lowering prices

Malaysiakini obtained a recording of the speech at the Korban Perdana event at Masjid Jamek Cherok Tok Kun Bawah in Bukit Mertajam.

Yesterday, the prime minister announced the new retail prices for Grade A, B, and C eggs at 42 sen, 40 sen and 38 sen respectively, down three sen each.

The government will now be spending 10 sen to subsidise each egg, which involves an expenditure of RM100 million.

The allocation for egg subsidies in 2023 was RM927 million.

Some had mocked the lower egg price announcement coming from Anwar, with former premier Muhyiddin Yassin saying that he was expecting more robust measures to address the rising cost of living.

The government had begun rationalising fuel subsidies this month, starting with diesel - to channel subsidies directly to those who need it via cash transfers or fleet cards in the case of industries.

While the government does not expect costs to increase due to the blanket subsidy withdrawal, Anwar in his speech acknowledged that the cost of living is still impacting the public.

“That is why we look for ways, where we can lower (prices),” he said. - Mkini