A country with huge subsidies may ultimately go bankrupt

 https://www.malaysiakini.com/news/681670

YOURSAY | A country with huge subsidies may ultimately go bankrupt

PM: M’sia’s subsidies expected to surpass RM81b this year

Apanama is back: The subsidies given by the government to the rakyat including electricity, fuel, and food are expected to exceed RM81 billion this year.

Prime Minister-cum-Finance Minister Anwar Ibrahim appears to be really proud of it because it helps people.

PM Anwar, a country with huge subsidies may ultimately go bankrupt. You and your team are not doing anything at all for the last 10 months as far as subsidies for addiction are concerned.

You need to go beyond the rationalisation of subsidies. The way you explain it is too simplistic. Your approaches are too simple.

Instead of rationalisation, you need to find ways to reduce the cost of living and totally cut down some of the subsidies.

PM Anwar, at the moment, the cost of living is the real root cause and it has ‘hijacked’ you and our economy to the level that we need to spend more than RM81 billion.

This is on top of our current RM1.5 trillion debt hanging over every Malaysian citizen’s head.

Your job is to reduce the subsidies, say, around RM40 billion for the year 2024, and RM30 billion for the year 2025. In five years’ time, the subsidy amount should be below RM10 billion.

You and your team should break your heads and find solutions for this menace and nuisance subsidies which actually impeded our development over the decades.

PM Anwar, you are going to spend more than RM81 billion this year on top of our trillion-dollar debt. It will be game over economically for our country.

You need to get outside help to manage our economy and finance. What is your Hassan Marican advisory group doing? I do not see anything tangible coming out of the group for the last months.

It has been getting worse since you took over last November. Don’t be proud of your speech. It is nothing besides spelling a picture of doom for our country’s future.

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