The Malaysian government has confirmed that it’ll not enhance the value of subsidised cooking oil, despite the continued financial challenges confronted by the country. Domestic Trade and Cost of Living Minister Salahuddin Ayub stated that the federal government will instead introduce a targeted subsidy mechanism once the Central Database Hub (PADU) system is totally operational. The determination comes as many Malaysians continue to battle with rising living costs.
Salahuddin Ayub defined that the government will initiate focused subsidies for the people as a end result of the government spends a big amount on subsidies for cooking oil, RON95 petrol, and different important goods. He added that the current subsidies might be maintained for the sake of the people, and when the financial system recovers, a perfect ecosystem might be re-established with focused subsidies to save on expenditure. This statement was made in the course of the Minister’s Question Time at the Dewan Rakyat sitting.
In response to a question concerning the high demand for used cooking oil for biofuel, Salahuddin said it has the potential to be an financial useful resource, particularly for housewives and micro, small, and medium enterprises. Unlock revealed that preliminary discussions had been held with Petronas, which might act as a authorities agency to assist the industry in achieving economies of scale, thereby growing the revenue of the nation and the folks involved..