Subsidy CUTS to continue, GST on the way, BR1M to be tightened
16 October, 2013 Leave a comment
The subsidy rationalisation programme (SRP) will continue to proceed gradually over a reasonable period of time, said Maybank Investment Bank Research.
Its economics team, in a meeting with Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, together with other research houses, last Friday said subsidy was the session’s “hot topic”.
The question was on the subsidy rollback going forward – whether the government should announce a detailed timetable for the sake of transparency and credibility.
“In response, the minister stated that subsidy rationalisation would proceed gradually over a reasonable period of time, that is, we quote, “not too short or not too long”.
“We interpret this remark to mean that the original SRP target of ending all subsidies for essential food items (sugar, flour, cooking oil), fuel (petrol, diesel, LPG) and energy (gas, electricity) by 2015 is no longer applicable.”
“When the going gets tough, the tough get going”.
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