The government's move to rationalise fuel subsidies, starting with diesel, is being carefully executed with various targeted groups shielded from price increases through fleet cards and cash transfers. The targeted subsidies will mitigate the adverse impact on inflation while generating substantial savings, particularly by reducing leakages and cross-border smuggling, he said. Prime Minister Datuk Seri Anwar Ibrahim on May 22 announced that his Cabinet agreed to implement a targeted diesel subsidy for consumers in Malaysia. To curb drastic rises in the prices of goods and services, the government will provide subsidies for traders using commercial diesel vehicles including ten types of public transport vehicles and 23 types of goods vehicles under the diesel subsidy control system. Yeah said that transport costs will hardly rise as most operators are provided with targeted subsidies.

Source: Bangladesh Sangbad Sangstha May 23, 2024 21:54 UTC