KUCHING: Maintaining the current subsidy levels is not only depleting the government’s development fund but there may be other issues as well, says Parti Bangsa Malaysia (PBM) president Larry Sng.
Sng stressed that issues such as leakages and subsidies being abused by others could arise.
The Julau MP noted that petrol prices in the country are the second lowest in Asia and one of the lowest in the world.
In Europe, Singapore and most parts of the world, he said petrol prices for RON97 equivalent were around four to five times higher than the prices here.
“Although such a policy has benefitted many over the years, we should be extremely cautious, given the government’s ballooning total subsidies amounting close to RM80bil to date.
“A better approach may be to target those who are most deserving instead of a blanket subsidy approach,” he said on social media on Monday (July 18).