KUALA LUMPUR: Expansion of tax bases and government revenue streams, targeted subsidies and prudent fiscal management to better manage the country's finances are part of the agenda for the 12th Malaysia Plan (12MP) mid-term review.
While new taxes are on the cards, Prime Minister Datuk Seri Anwar Ibrahim gave assurance that those in need will be taken care of and aid given continuously.When tabling the review of the five-year development plan in the Dewan Rakyat on Monday , Anwar said fiscal reforms are needed to ensure that the country's finances are managed in a sustainable and effective manner.
"The government is also cognisant of the worries of some people who are affected by the burden of rising cost of living. On that note, Anwar said the targeted subsidy mechanism wold ensure that those in need benefit from the aid available.Energy and fuel subsidies and other social aid will be restructured to ensure prudent fiscal management, while the Pangkalan Data Utama system, a database centred on household income data, will be used in the disbursement of subsidies.
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