THE Domestic Trade and Cost of Living Ministry will conduct an impact study on the Payung Rahmah initiative in June.

Its minister, Salahuddin Ayub, said the study would be carried out six months after the introduction of the initiative and the results of the study would be presented to Prime Minister Anwar Ibrahim, who is also the finance minister.

“This initiative has been running for three months and I have told the ministry that when it reaches six months, we will do an impact study to look at its sustainability.

“Only then will the ministry report the results of the study to the government, especially the prime minister, so that in next year’s budget, we (the government) can review the offers, initiatives or tax exemptions that can be given to the industry that is seriously involved in this initiative,” he said.

Salahuddin said that so far, the Jualan Rahmah initiative through voluntary participation by the industry without involving government expenditure, has been able to reduce the prices of almost 12,000 essential items such as cooking oil, drinks, biscuits and clothes.

On the government’s proposal to introduce the Insurans Rahmah initiative, he said two insurance companies have expressed interest in offering such packages, namely Etiqa and Allianz.

“We have met with Etiqa and they have offered several Rahmah packages and in two weeks we will finalise them, because we have to look at the legal, regulatory, short-term and long-term effects of the offer.

“We also need to get approval from Bank Negara and the Finance Ministry, and if all requirements are met, then the insurance package will be offered to the people,” he said, adding that an engagement session will be held next week with Allianz. – Bernama, March 25, 2023.