Govt’s bold move will have minimal impact on people, says PM

KUALA LUMPUR: The Government’s bold move to cut subsidies for sugar, petrol, diesel and liquefied petroleum gas will have minimal impact on individuals and families.

Prime Minister Datuk Seri Najib Tun Razak said the Government will adopt an approach that will not burden the people when implementing the subsidy rationalising plan.

“The rationalisation move is necessary to reduce Government expenditure and strengthen the country’s financial position.

“It will help reduce the fiscal deficit so that world and local markets will have more confidence in the national economy,” he told reporters in Kedah.

A statement from his office said fuel prices were still considered the cheapest in the region even after the increase.

It also said the sugar subsidy cut would help to promote a healthier lifestyle.

The overall reduction in government expenditures will allow investment in the nation’s future in education, community development and job creation.