ALOR SETAR, July 21 — Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said the government will give small traders, including packet cooking oil suppliers, at least two years to be fully prepared before the targeted subsidy system is implemented.
“The government will implement the targeted subsidy system to ensure only those who really need it receive the cooking oil subsidy,” he said at the launch of the Northern Zone Malay Cooking Oil Press Association and Langkawi Wholesale Distribution in Alor Senjaya near here today.
“The KPDN (Domestic Trade and Cost of Living Ministry) gave some constructive and proactive advice to small industry players, including packet cooking oil suppliers, to come up with their best plans to remain competitive. In this world, no industry can stick to their old ways,” he said.
Salahuddin said his ministry is waiting to obtain more accurate data from an integrated main database, which is set to be completed by year-end.
“The 60,000 metric tonnes of cooking oil subsidised per month at present will definitely be reduced when we implement the targeted subsidy.
“We advise small cooking oil suppliers to start planning and preparing for their future now. We are not going to rush and stop the subsidies immediately. We do not want to jeopardise their businesses, so we are giving them ample time to prepare for the targeted subsidy system,” he said.
On May 18, Salahuddin said targeted diesel subsidies are expected to be implemented next year, and that the National Economic Action Council had agreed to come up with an integrated main database to ensure more effective distribution of targeted subsidies.
— Bernama
