THE mechanism for targeted subsidies is 75% complete, Deputy Finance Minister I Ahmad Maslan said.

Ahmad said the mechanism might be announced during the presentation of Budget 2024 scheduled for October.

“It is still being refined. It (targeted subsidy) has already started, for example, at Tabung Haji for those who performed the haj recently.

“The T20, M40 and B40 income groups have their rates and T20 is not given (subsidy) at all. Targeted subsidy for electricity has also begun so it is time for diesel and RON95.

“We are still fine-tuning it.”

Ahmad added that the method of implementing the targeted subsidy has yet to be finalised, whether through the use of identification cards, special cards, or using the horsepower (cc) of the vehicle as well as the identification data of the T20, M40, and B40 groups.

Earlier, Domestic Trade and Cost of Living Minister Salahuddin Ayub said the government is expected to carrying out targeted subsidies, including for RON95 petrol and diesel beginning next year. – Bernama, May 24, 2023.