THE National Action Council on Cost of Living has been given two weeks to analyse the impact of subsidies so that they reach the targeted group.

Prime Minister Anwar Ibrahim said all relevant ministries and agencies have been tasked with gathering information that will be presented to his cabinet after it has been formed.

“I have no problems with subsidies for the people, particularly the poor. But, in our discussions, we found that subsidies must be targeted,” he said at a press conference at the Prime Minister’s Department in Putrajaya today.

“Take, for example, oil prices. That (subsidy) also benefits the people who are rich.

“So I am giving two weeks to analyse, look through all the implications and discuss with the private sector and investors so that they understand that the reason for subsidies is to lighten the burden of the poor.”

Anwar also said there could be incentives for businesses and industries in exchange for any removal of subsidies. Earlier, he had chaired the 2022 National Action Council on Cost of Living special meeting.

He said it was held on a Sunday as it was an urgent matter.

He said overcoming living costs is a priority of his administration.

Among those present at the meeting were Chief Secretary to the Government Mohd Zuki Ali, Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus and officers from the Department of Statistics, Domestic Trade and Consumer Affairs Ministry, Finance Ministry, Agriculture and Food Industries Ministry and Energy and Natural Resources Ministry. – November 27, 2022.