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Malaysia is reviewing its government subsidies program, aiming to direct money toward low-income groups, Prime Minister Anwar Ibrahim said on Sunday.
He added that Government agencies have two weeks to review the implications of narrowing the subsidies.
Anwar said in a statement; “Subsidies must be targeted, otherwise those subsidies are enjoyed not just by the low-income group but also the wealthy.”
Other incentives will be considered for industries that no longer benefit from subsidies, he said.
Malaysia offers subsidies to all citizens, with fuel and cooking oil accounting for the biggest expense. It also subsidises electricity, sugar and flour.
The PM was sworn in on Thursday. He has now said he will discuss cabinet appointments with his coalition partners in the next few days.
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