Govt won't introduce new taxes, aims for fairer subsidies, says Anwar

PRIME Minister Anwar Ibrahim said the government does not intend to introduce new taxation instruments but implement a more equitable targeted subsidy system that meets the needs of the people.

He said low-income groups such as fishermen, smallholders and taxi drivers were exempted from the targeted diesel subsidy.

“The government does not wish to introduce new taxation that burdens the people. The issue with the diesel subsidy is the significant leakage, costing billions of ringgit ... the wealthy and large industries still benefit from these subsidies.

“The implementation of targeted subsidies will only affect the wealthy, large industries and foreign nationals. Fishermen, smallholders, Grab and taxi drivers will all be exempt (from being taxed), potentially exempting nearly a million citizens from the diesel tax,” he said as reported by Bernama.

Speaking at the Melaka Madani Convention today, Anwar also urged all ministries and departments to adopt the Madani slogan as a dynamic concept, aligning with technological advancements, digitalisation and artificial intelligence (AI) in the nation’s development efforts.

On the upcoming Islamic Economic Conference from May 28-29 in Kuala Lumpur, he said the conference will consider the principles of Syariah (Maqasid Syariah) with a broader and more comprehensive scope.

“This economic conference will examine the Islamic economy from the wider aspects of Maqasid, meaning how public participation, social inequality improvement, use of opportunities and digital AI technology exploration are involved.

“This conference will bring a new thinking that I consider as Madani, as it discusses societal issues encompassing all fields,” the prime minister said. – May 25, 2024.