Deputy Minister of Finance II, Steven Sim Chee Keong says while the government is still subsidising electricity for RM10.8 billion, there is a saving of RM4 billion for the period from January to June this year. Deputy Minister of Finance II, Steven Sim Chee Keong says the savings is after the government’s move to no longer provide full electricity tariff subsidies to large companies that use electricity at a high level this year.
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However, the government is still studying ‘targeted subsidy’ models to be implemented in the future. “The government is also studying the implementation of targeted subsidies based on appropriate models and feasibility by identifying methods that are not only effective but save time and have the least financial implications for the government,” he adds.