The economy minister says if political and economic stability continues, projections suggest that by 2027 or 2028, Malaysia could be recognised and declared as a developed nation.
A total of 12 Malaysian companies have been listed as among the 15 best-performing companies in Southeast Asia in the first five months of this year, according to economy minister Rafizi Ramli.
He said economic monitors had listed the stocks of the 15 companies recording the most significant gains in Southeast Asia, 12 of which are Malaysian companies, demonstrating that the country is back on track under the unity government’s administration.
Rafizi also spoke about oil prices and the implementation of targeted diesel subsidies, noting that in the past, oil prices stood at RM1.90 per litre and government subsidies were RM3 billion out of a budget of over RM200 billion.
“Now, subsidies are RM60 billion and crude oil prices are at US$80. We can’t build schools, we can’t increase salaries, and the subsidies benefit the wealthy.
“Isn’t it better that we redirect those subsidies to public vehicles, small trucks, traders, even regular people as long as they have diesel vehicles, and those earning below RM100,000 a year also get RM200 a month?” he said.
Rafizi said the implementation of targeted diesel subsidies also helps the government distribute subsidy funds directly to needy households each month instead of paying billions of ringgit to oil companies.
Yesterday, second finance minister Amir Hamzah Azizan announced that the price of diesel at all retail stations in the peninsula would be set at RM3.35 per litre, which is the market price without subsidies, from 12.01am.
Under Budi Madani, cash aid of RM200 per month is provided for private diesel vehicle owners, small farmers, and small commodity planters.
Source: Free Malaysia Today
Share:
<p>Time: 2024 By: Ministry of Industry and Trade</p>
