'When there's subsidy, no one thanks the gov't'

VIDEO | 2.45 mins

PARLIAMENT The people do not thank the government for the subsidies that it provides, Deputy Finance Minister Ahmad Maslan told the Parliament today.

"When we give subsidy, no one says thanks (to the government). But when we reduce subsidy, they kick up a fuss," Ahmad said.

He said this during Question Time today, in reply to Abd Aziz Sheikh Fadzir (BN-Kulim Bandar Baru), who asked about the government's spending habits.

Ahmad said there was no economic crisis in the country, and that Malaysia's debt ratio of 51 percent to the gross domestic product (GDP) was far better than developed countries such as the United States, Italy, Portugal and even Singapore.

"Plus about 96 percent of our debt is internal debt," Ahmad said.

"The people are worried (about the economic situation) and we admit that. But this is the spin played by the opposition. That is what they do," Ahmad said.

He reiterated that the government is committed to reduce its budget deficit to four percent this year and later have a balanced budget by the year 2020.

He said that a household expenditure survey carried out between 2009 and 2010 showed that only 30 percent of the petroleum subsidy is being enjoyed by households earning RM3,000 and below.

"The rest are being enjoyed by households earning RM3,000 and above," he said, stressing for the need of subsidy rationalisation.