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.
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“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