DOHA: Prime Minister Datuk Seri Anwar Ibrahim emphasized the importance of reducing wasteful spending and cutting back on excessive subsidies to lower government debt, though he did not specify a timeline for eliminating fuel subsidies.
“I acknowledge the need for action, but it must be done prudently,” he stated during an interview with Bloomberg Television’s Haslinda Amin at the Qatar Economic Forum.
In response to a question about the timing of subsidy reductions, he remarked, “The key issue is how we implement these reforms without harming the poor – this is crucial to me.”
“We will do it at the right time,” he assured.
Currently, Malaysia subsidizes a significant portion of the cost of fuel and cooking oil for its citizens, a practice that cost an estimated RM81 billion last year. — Bloomberg
