KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim assured that the subsidy rationalisation on RON95 will not arise at this moment.
He said at present, the government wants to focus on explaining the rationalisation of diesel subsidies to the people first.
"It is not an issue and we deal with diesel (first), to make people understand it (diesel subsidy rationalisation) better, which is sometimes twisted (by certain quarters).
"I already said that if there is a problem with diesel, let me know. We don't want to burden the people, but if we don't do it (the subsidy rationalisation), the country's revenue won't increase," he told reporters after officiating the National Tax Conference 2024 today.
On July 10, Economy Minister Rafizi Ramli told the Dewan Rakyat that the government is withholding details on subsidy rationalisation to prevent traders from exploiting the situation.
He said that public advance notice could lead to preemptive price hikes by traders.
Meanwhile, on the government's commitment to reduce the country's new debt to RM86 billion this year, Anwar said it can be done by ensuring prudent spending and by avoiding waste.
"Also, borrow only when it is necessary for development purposes and to pay for outstanding debt."
Anwar, in his speech earlier, said the government is committed to reducing new debt as a short-term measure to improve the country's financial capacity.
He said in 2021 and 2022, the country's new debt stood at RM100 billion before it was gradually reduced.
The amount was reduced to RM93 billion in 2023 and further reduced to RM86 billion this year.
Asked if the rationalisation of subsidies is one of the efforts, Anwar replied "Comprehensive efforts and initiatives that cover a broader spectrum, including better governance, rationalisation, avoiding waste, tackling corruption, as well as enforcing laws and taxation."
On the projection of revenue from tax collection, he said it is up to the Inland Revenue Board.
"But what I want is that those who should pay (the taxes) must pay, whether they are the rich or billionaires, I don't care.
"There must be stricter efforts to ensure those who are supposed to do so (pay the taxes), they must pay and there should be no leakages."