Kuala lumpur: The implementation of targeted fuel subsidies must take into account reasonable household living expenses to ensure the programme truly benefits the intended groups. Economy Minister Akmal Nasrullah Mohd Nasir emphasized that the mechanism should not be based solely on income classification, as the financial commitments of households differ significantly.
According to BERNAMA News Agency, Akmal Nasrullah highlighted the need for a comprehensive assessment to determine the most suitable threshold or level to apply. He stressed that classifications should not be solely income-based but should consider reasonable basic expenses and other related factors. The minister expressed concerns about creating classifications that might be debated from different perspectives, given that economic conditions are influenced by multiple factors beyond income.
He addressed reporters after the launch of a strategic collaboration between the Economy Ministry and the Federal Territories Islamic Religious Council (MAIWP) under the People's Income Initiative-Food Entrepreneur Initiative (IPR-INSAN), officiated by Minister in the Prime Minister's Department (Religious Affairs) Dr. Zulkifli Hasan.
Akmal Nasrullah further elaborated on the ministry's efforts to refine the subsidy targeting mechanism to strengthen fiscal management, particularly for diesel subsidies. He acknowledged the ongoing global conflicts that continue to share the burden among all, highlighting the importance of introducing mitigation and intervention measures periodically.
When asked about the impact of the meeting between United States President Donald Trump and Chinese President Xi Jinping on the global economy, Akmal Nasrullah stated that the ministry's primary focus remains on strengthening domestic economic resilience. He emphasized the importance of ensuring continuity in the supply of fuel and other essential goods for Malaysia, while expressing hope for global stability without delving into further comments on international developments.