Kuala Lampur:Finance Minister Amir Hamzah Azizan emphasized the importance of fairness, trust, and transparency in gaining public support for challenging fiscal reforms, including subsidy rationalization.

According to BERNAMA News Agency, the minister highlighted that the public is more inclined to accept difficult decisions when they comprehend the reasons and perceive the implementation as equitable. Speaking at the Khazanah Megatrends Forum, Hamzah pointed out that subsidy rationalization has been ongoing for over two years.

He stressed that trust and transparency are essential for garnering acceptance of reforms, especially as fiscal constraints necessitate challenging trade-offs for the public good. Restructuring subsidies is crucial to create fiscal space and ensure aid reaches those in need. The government must demonstrate both the necessity for change and the fairness of its approach.

Hamzah also mentioned the importance of protecting future generations, referencing the Fiscal Responsibility Act as a safeguard to enhance fiscal discipline and reduce deficits. He warned against depleting resources meant for future generations and emphasized the need to preserve wealth from finite resources like oil and gas.

The national trust fund framework, he noted, is designed to set aside resources with regulations on withdrawals, supporting education, skills development, and health. Hamzah remarked that government decisions have long-lasting impacts and must be carefully evaluated for their human implications.

In a hypothetical scenario, he explained how a policy affecting 10 percent of Malaysia's population would impact 3.4 million people, illustrating the significant changes government actions can bring to individuals' lives. He concluded by stating that national progress requires collective effort, as neither Khazanah nor the government can achieve it alone.