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No new taxes, only fairer targeted subsidy, says PM

Publish date: Sun, 26 May 2024, 10:52 AM

MELAKA: A fairer targeted subsidy mechanism that meets the needs of the people will be implemented as the government has no intention of unveiling a fresh taxation system, says the Prime Minister.

Datuk Seri Anwar Ibrahim said he does not wish to introduce a tax system that burdens the people, adding that this is evident in his recent announcement exempting low-income groups such as taxi drivers and fishermen from the targeted diesel subsidies rationalisation programme.

“The implementation of targeted subsidies will impact the affluent, big industries and foreign nationals while e-hailing and taxi drivers, fishermen and smallholders will all be exempted.

“The issue with the diesel subsidy is the loss of billions of ringgit where wealthy and mega industries benefited from,” he said after opening the International Madani Convention here yesterday. On Tuesday, Anwar announced that the government had approved the start of the diesel subsidy rationalisation programme which he said was expected to save the government about RM4bil annually.

Meanwhile, the Prime Minister urged ministries and government departments to embrace the Madani slogan and turn it into a dynamic concept in tandem with technological evolution, digitalisation and artificial intelligence as part of efforts to spearhead the country’s development agenda.

He also touched on the upcoming Islamic Economic Conference, set to take place on Tuesday and Wednesday in Kuala Lumpur, which will consider the principles of Syariah (Maqasid Syariah) with a broader and more comprehensive scope.

“This economic conference will examine the Islamic economy from the wider aspects of Maqasid, meaning how public participation, social inequality improvement, use of opportunities and digital AI technology exploration are involved.

“This conference will bring a new thinking that I consider as Madani, as it discusses societal issues encompassing all fields,” Anwar said.

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