Finance minister II: RM4b estimated savings from targeted diesel subsidy to free up fiscal space

Finance Minister II Datuk Seri Amir Hamzah Azizan said that in 2022, RM81 billion was spent for subsidies and social welfare support, and the amount fell to less than RM70 billion last year. — Reuters picPUTRAJAYA, May 31 ― The estimated savings of RM4 billion from the targeted diesel subsidy implementation are expected to give the government a larger fiscal space in efforts to increase the quality of various services that are important for the people.

Amir Hamzah said the targeted diesel subsidy will also be implemented using the best mechanism and emphasise the target groups that require assistance. Of the 700,000 Budi Madani recipients, 300,000 of the diesel vehicles are privately owned, and the rest are commercial vehicles. Last Monday , the Finance Ministry said the implementation of the Madani, or Budi Madani Subsidy Assistance Programme, involves private diesel vehicle owners for individuals, small farmers and small commodity farmers.

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