Deputy Finance Minister Ahmad Maslan has stated that the government could save up to RM15 billion to RM17 billion if petrol subsidies were to be stopped for the T20 income group.
35% subsidies directed towards T20
According to Maslan, about 35% of the total subsidies are directed towards this group, which only benefits those who can already afford to pay market prices for fuel.
“Among them, the B40 group only received 24% of the petrol subsidies, the M40 group received 41%, while the T20 group could enjoy 35% (approximately RM17.8 billion) of the petrol subsidy,” he added.
Could save around RM17 billion per year
He also stated that the government could save around RM15 billion to RM17 billion annually if it stops the petrol subsidy for the T20 group.
“If the government does not provide subsidies for petroleum and petrol products to the T20 group, it can save up to RM17 billion. This huge sum of money can be used to help the poor and other affairs in the 26 government departments,” he further commented.
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