Budget 2025: Targeted RON95 subsidies to be implemented from mid-2025, says Anwar

The Star

Prime Minister Datuk Seri Anwar Ibrahim says a targeted subsidy plan for RON95 fuel will be implemented in the middle of next year.  While tabling Budget 2025 on Friday (Oct 18), Anwar said the savings made by the government would continue to be used for the betterment of the people.  Read more at https://tinyurl.com/bdensu59   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00As stated by Confucius in the Analects of Longyue,

00:08guo e bu gai xi wei guo yi

00:16If there is a mistake and it is not corrected,

00:21then that is the real mistake.

00:24That is why we try to correct it.

00:26If you make a mistake and do not correct it,

00:29it is a true mistake.

00:31And the fatal mistake,

00:33according to Confucius,

00:35that has put us in a vicious circle,

00:39yi zhuo zai zhuo

00:50The Chinese understand.

00:52That is to repeat the same failure over and over again.

00:57In fact, the government needs to adapt

00:59and take approach to raise subsidies.

01:03So, to introduce the raising of subsidies,

01:06we take from the Quran, from Confucius,

01:08from the Analects of Longyue.

01:11This step will bring savings

01:15which can be spent for other interests.

01:19For example, when we implement the raising of electric subsidies,

01:23water tariff, chicken price, diesel subsidies,

01:27are now accepted better.

01:30But the water tariff is not a problem

01:34because all countries agree.

01:36And all countries implement it.

01:38Therefore, it should not be taken as a problem.

01:42In this approach,

01:44the government will defend the interests of the people.

01:49Every subsidy investment

01:51is to improve the efficiency of the raising of subsidies

01:55which benefits the elite of the rich and the foreigners.

02:08The reality that cannot be imagined is that

02:11the foreigners and 15% of the rich

02:17enjoy 40% of petrol subsidy RON 95

02:22worth Rp 8 billion.

02:25Rp 8 billion is the government subsidy

02:28from the people who raise subsidies

02:30to the elite of the rich and the foreigners.

02:33Therefore, it is better to use this Rp 8 billion

02:38for education, health, public transportation,

02:43including the original people.

02:46So far, the price of RON 95 in Malaysia is Rp 2.05

02:51compared to neighboring countries.

02:53Thailand, Rp 5.85.

02:56Indonesia, Rp 3.38.

02:59Singapore, Rp 9.02.

03:02Saudi Arabia, Rp 2.66.

03:06The low price causes the government to bear

03:09the amount of RON 95 subsidy in 2023

03:13to Rp 20 billion.

03:16However, the government is committed to retaining the subsidy.

03:20The government will retain the subsidy for the majority of the people

03:26such as electricity subsidy.

03:29This means that 85% of the people

03:33are not affected by the change in RON 95 subsidy.

03:38In order to avoid confusion,

03:41I emphasize once again that the subsidy payment

03:44is still continued for 85% of the people.

03:49The government will only...

03:52Therefore, for 85%,

03:56the government is forced to pay a subsidy

03:59estimated at Rp 12 billion for 85%.

04:05So, Rp 8 billion can be saved

04:08from the rich and foreigners.

04:12And I hope that no one in this court

04:14will represent the rich and foreigners.

04:18The government is committed to pay the RON 95 subsidy

04:22in mid-2025.

04:25In conclusion, I emphasize

04:28this subsidy will ensure benefits

04:32in education, health and welfare of the people.

Category

Transcript

Recommended