Finance Ministry finalising several HVGT policies, says Anwar

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KUALA LUMPUR: The Finance Ministry is finalising several policies linked to the High Value Goods Tax to ensure that the low income group is not affected, says Prime Minister Datuk Seri Anwar Ibrahim on Tuesday .

In another written response, Anwar said that the impact of the devaluation of Ringgit is higher against imported goods.“The government is aware that the B40 households are more vulnerable to the depreciation of Ringgit as they spend more on food items, which comprises 35.4% of the total expenditure," said Anwar, who is also the Finance Minister.

“However, global commodity prices that have slightly stabilised have helped mitigate the effects of devaluation of Ringgit against inflation,” he said, responding to Datuk Larry Sng . Anwar said Malaysia, as an exporting country, would generate translation gains leveraging on the depreciation of the currency.

 

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