Subsidies - Painful But Necessary.

Newly minted Prime Minister, Datuk Seri Anwar Ibrahim recently chaired a special meeting of the 2022 National Action Council on the Cost of Living. He has set a two-week deadline to come up with a proposal on targeted subsidies and their implications. Malaysia is estimated to spend a record RM80 billion this year on subsidies with the largest being for fuel and cooking oil. How quickly and in what manner will the new government follow through with this initiative? For insights, we speak to Carmelo Ferlito, CEO of the Center for Market Education.

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