Subsidy CUTS to continue, GST on the way, BR1M to be tightened

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essential food items (sugar, flour, cooking oil), fuel (petrol,  diesel, LPG) and energy (gas, electricity) by 2015 is no longer applicable.”

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