KUALA LUMPUR: 2025 budget champions transformative initiatives while also addressing the impact of subsidy rationalisation on fiscal health, RHB Banking group manging director Datuk Mohd Rashid Mohamad.
"Budget 2025 demonstrates a decisive commitment to fiscal prudence while paving the way for sustainable and inclusive growth. It builds on the Ekonomi Madani framework, focusing on financial stability and addressing pressing social welfare needs," Mohd Rashid who is also group chief executive officer of RHB said in a statement.
He added that by streamlining subsidies, the government can redirect funds towards critical areas.
Mohd Rashid said key initiatives such as the National Energy Transition Facilitation Fund, which will allocate over RM 300 million in 2025 demonstrate Malaysia's commitment to a greener future.
He added that the Net Energy Metering (NEM) programme has also been extended to mid-2025, allowing more rooftops to adopt solar photovoltaic (PV) systems, thereby promoting renewable energy adoption.
"As we prepare to chair Asean, Malaysia is well-positioned to drive economic, social, and environmental resilience. The introduction of special incentives for the Johor-Singapore Special Economic Zone (JS-SEZ) reflects our commitment to enhancing Malaysia's economic relevance," he added.
Mohd Rashid said the Green Technology Financing Scheme (GTFS), with an allocation of RM 1 billion, and the upcoming carbon tax on the iron, steel, and energy industries, reinforce Malaysia's sustainability goals and ensure an inclusive transition to a low-carbon economy.