ALOR SETAR - Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said the government will give small industry players, including packet cooking oil suppliers, at least two years to be fully prepared before implementing the targeted subsidy system.
"The government will implement the targeted subsidy system to ensure that only those who really need it receive the cooking oil subsidy,” he said, after attending the launch of the Northern Zone Malay Cooking Oil Press Association and Langkawi Wholesale Distribution, in Alor Senjaya, near here today.
"KPDN gave several constructive and proactive advices to small industry players, including the packet cooking oil suppliers, to come up with their best business plans in order to be competitive. In this world no industry can stay the same with their old ways,” he said.
Salahuddin said that the ministry is also waiting to obtain more accurate data from the Main Database (PADU), which is expected to be completed by the end of this year.
"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 suppliers of cooking oil to start planning and preparing for their future now. However, we are not going to rush and stop the subsidies immediately. We do not want to jeopardise their business, so we are giving them ample time to prepare for a targeted subsidy system,” he said.
On May 18, Salahuddin said that targeted diesel subsidies were expected to be implemented next year, and the National Economic Action Council (MTEN) agreed to come up with an integrated main database to ensure a more effective distribution of targeted subsidies. - BERNAMA