Gov't expected to bear RM19bil subsidy this year
BernamaPublished: Jan 20, 2012 2:20 PM | Updated: Jan 20, 2012 3:14 PM
The government is expected to bear RM18.92 billion to subsidise price-controlled items this year, Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob said.
The government is expected to bear RM18.92 billion to subsidise price-controlled items this year, Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob said.
He said of the total, RM17 billion would be for fuel, RM1.2 billion for cooking oil, RM567 million for sugar and the rest for flour.
"Last year, the government spent RM17 billion to subsidise these items," he said at the handing over of the 1Malaysia People's Aid (BR1M) to 300 members of the Indian and Chinese communities in the Bera parliamentary constituency.
Ismail Sabri said the increase in subsidy was due to the global increase in prices.
"This is compounded by the increase in world population as against the increase in food production at a mere two percent," he said, adding that natural disasters such as drought had also affected the global food production.
Ismail Sabri, who is Bera MP, said the Barisan Nasional government would continue to take measures to help the people cope with the rising prices.
- Bernama
He said of the total, RM17 billion would be for fuel, RM1.2 billion for cooking oil, RM567 million for sugar and the rest for flour.
"Last year, the government spent RM17 billion to subsidise these items," he said at the handing over of the 1Malaysia People's Aid (BR1M) to 300 members of the Indian and Chinese communities in the Bera parliamentary constituency.
Ismail Sabri said the increase in subsidy was due to the global increase in prices.
"This is compounded by the increase in world population as against the increase in food production at a mere two percent," he said, adding that natural disasters such as drought had also affected the global food production.
Ismail Sabri, who is Bera MP, said the Barisan Nasional government would continue to take measures to help the people cope with the rising prices.
- Bernama
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