malaysian subsidy 2010 report
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![Page 1: Malaysian subsidy 2010 report](https://reader034.vdocuments.net/reader034/viewer/2022051411/5412d7d78d7f720a4e8b46f3/html5/thumbnails/1.jpg)
Dato Sri Idris Jala CEO of PEMANDU Minister in Prime Minister’s Department
Opening Presentation
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The purpose of Subsidy Rationalisation Lab Open Day :
To share lab findings & recommendations and seek public feedback
To recommend a Subsidy Rationalisation Roadmap to the government
Setting the stage ....
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PM has introduced 4 pillars to achieve Vision 2020
1 Malaysia, People First, Performance Now Government Transformation Programme New Economic Model 10th Malaysia Plan
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People First Performance Now
was a first step to unite our people
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2010 is a good year..
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We introduced the GTP for
the rakyat
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The GTP is already delivering results in just 3 months ....
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15.1% drop in overall
Index Crime
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39.6% drop in street crime
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928,775 passenger increase in
LRT ridership
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929 pre school classes have started
and 7,616 primary schools
have been ranked
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Out of 44643, 12753 are no longer
hardcore poor
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2665 government contracts have been published on line
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97 people convicted of corruption have been published in MACC website
www.sprm.gov.my
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We have launched the New Economic Model...
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Wholesale & Retail
Oil, Gas & Energy
Palm Oil
Health Services
Financial Serv &
Capital Mkt
Greater KL
Agri culture
Tourism
Education
lth ces
Electrical & Electronics
Agricculture
Biz Services
Telco
...and finalized
12 NKEAs
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..to boost our income (GNI per capita)
USD 7,000
USD 15,000
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Malaysia’s Competitive Index has improved significantly..
18th
10th
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Our GDP growth
for first quarter 2010 is..
10%
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More investors are investing in our country...
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We have the right ingredients
to succeed..
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However, the future looks gloomy....
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Malaysia has a rising debt...
362billion RM
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..and a rising deficit
47billion RM 2009
1998 5billion RM
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If government debt continues at the rate of...
12%
2010 1997 2020
per annum
Government debt RM billion
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...we could go bankrupt in 2019
2010 1997 2020
1158billion debt Government debt
RM billion
RM
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We do not want to end up like Greece ..
300billion debt
EUR
SOURCE : Deputy finance minister of Greece , Filippos Sahinidis
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..or other similar countries.
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In order to save our country...
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We must increase our GDP..
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..AND reduce government expenditure
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International & local leaders realized the need to reduce our subsidy bills...
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..and Pakatan Rakyat share the same views!
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Malaysians need to be aware that we are one of the highest subsidized nation...
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..even higher than Indonesia & Philippines
11.0
OECD avg = 1.5%
Philippines China 4 India 3 Indonesia United Kingdom
France Swit- zerland
Malaysia2
4.7
4.6
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We spent record subsidy in 2009
74billion RM
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Our subsidy bills in each category is enormous
23.5billion RM
4.8billion RM
3.4billion RM
42.4billion RM
Social Fuel & Energy
Infrastructure Food
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This is equal to ....
12,900 RM
74 RM
billion subsidy Per household
=
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Somalians pay more for fuel than Malaysians
Aver
age
reta
il fu
el p
rice
in 2
0081
U
S c
ents
/litre
Somalia
157th place
Singapore Thailand Malaysia
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As a result, we consume more fuel than other countries..
Litres per capita
2007 1997
Singapore
Thailand Indonesia
Malaysia
India China
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We will likely become a net importer of petrol by 2011
SOURCE: Petronas analysis 2015 14 13 12 11 10 09 2008
Thou
sand
bar
rels
P
er d
ay
2010 net importer
status at 8% pa growth Daily oil production
8% p.a. growth
Daily local demand
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We have been giving subsidies to the wrong income group
Total
Others 0.4
Farmers & Fishermen 0.2
Poor 1.7
Companies
All consumers
Students
RM Billion in 2009
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We have the cheapest cooking oil in the region..
Price of cooking oil (1kg bottle) RM, 2009
Brunei
Thailand
Indonesia
Singapore
Malaysia
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Our sugar price is the lowest in the region too!
Malaysia
Philippines
Singapore
Indonesia
Thailand
Price of sugar RM/kg, 2009
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And the lowest price for flour too..
Vietnam
Singapore
Thailand
Indonesia
Malaysia
Philippines
Price of flour (RM/kg, 2009)
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We must live in the real world..
We developed a framework for subsidy rationalisation
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Principle 1 Focus on the Big Ticket Items to achieve the big savings (i.e Fuel, Gas / Electricity, Tolls)
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Principle 2 Education is a human capital
investment and subsidy should continue but we must
reduce wastage / abuse
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Principle 3 Agriculture & Fisheries are the mainstay of the rural poor and subsidies will continue but must reduce wastage / abuse
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Principle 4 Healthcare is
necessary for a healthy population / workforce
and subsidy should continue but must
reduce wastage / abuse
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Principle 5 We should continue to subsidize the poor and disadvantaged and must target our subsidies better (eg: welfare assistance, low cost housing)
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Principle 6 Rakyat engagement and communications are critical including engaging both sides of the political divide
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Principle 7 Subsidy rationalization must be implemented on gradual / phase
basis, not big bang
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Principle 8 Mitigation measures and assistance are necessary to cushion the monetary impact (eg: stabilization fund and subsistence allowance)
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Let me now take you through the subsidy rationalisation roadmap & mitigation measures…
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Fuel prices will be increased gradually.. Petrol 15 sen / litre Diesel 10 sen / litre LPG + 10 % + RM 0.17 to 0.40 /litre to streamline supersubsidy to RM 1.60 / litre
Thereafter ; RM 0.10 / litre fuel every 6 months and 20% LPG every year
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We will provide cash rebate..
126 RM
Per person per car (less than 1,000cc)
54 RM
Per person per motorbike (less than 250cc)
Mitigation Plan
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This will cost the government..
526 RM
Million per annum
Mitigation Plan
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And the government will save....
44.9 RM
billion in 5 years
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We are reviewing the possibility of introducing a floating price mechanism ....
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Electricity tariff will be increased..
Gas price (Power) by RM 4.65 / MMBTU Gas price (Non Power) by RM 2.52 / MMBTU Electricity tariff by RM 0.024 / kWh
Thereafter, increase Gas Price (Power & Non Power) by RM 3.00 / MMBTU and Electricity tarif RM 0.016 / kWh every 6 months
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New tariff will not impact 56% of consumers
100-200 0-100 OVER 400 200-400
Distribution of usage (KWh/mth)
Per
cent
age
of h
ouse
hold
s, 2
009
Free No
Change
Mitigation Plan
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The government will save....
35.9 RM
billion in 5 years
Savings (RM millions) (Gas) 2010 2011 2012 2013 2014 1,121 4,524 7,502 10,396 12,346
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Toll rates will be increased
as per Concession Agreement
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Applicable only for toll highways which have alternative routes...
Mitigation Plan
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And we will provide
discount for toll users.. 20%
Discount upon next reload
(for more than 80 transactions per month)
Mitigation Plan
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This will cost the government...
60 RM
million per year
Mitigation Plan
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In return, the government will save....
3.7 RM
billion in 5 years
Savings (RM million) - Toll
2010 2011 2012 2013 2014
160.5 696 862 919 1,047
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Price of sugar, flour and cooking oil will be increased by
Sugar + 20 sen / kg (every 6 months until 2012)
Flour + 20 sen /kg (2010) + 25 sen / kg (2011)
Cooking oil (1 kg) +15% (2010) +15% (2011), thereafter 5% every year until Jan 2014
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You will receive... Year 1 ▪ Cash rebate of RM20 to
MyKad/ MyKid card holders through post-offices
Year 2 ▪ Discount through MyKasih
card (for income below certain threshold)
▪ Use designated shops e.g. SaveMore, petrol stations at high poverty areas
560 RM
million per year 200
RM
million per year
Mitigation Plan
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...will be saved
8.5 RM
billion over 5 years
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We will reduce wastages & inefficiencies Agriculture ▪ Usage of targeted
fertilizers
Fisheries ▪ Increase diesel price ▪ Increase incentives for
fish caught (10 sen /kg) (50 sen/kg)
▪ Maintain RM 200 monthly allowance
Education ▪ Remove subsidies for foreign
students ▪ Re-target subsidies for poor
families
Health ▪ Increase outpatient fees (RM 1 RM 3) Poor will be continue to be
fully subsided
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We will reduce wastages & inefficiencies
Agriculture Fisheries
Education
Health 16.3 RM
billion over 5 years
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We will save RM 103 billion in 5 years
RM million
MKD, MasWings
Cooking oil, Sugar, Flour
Fuel
Tolls
Gas
Healthcare, Education, Welfare
Fisheries, Paddy
2014
35,542
2013
29,510
2012
21,104
2011
14,118
2010 1
2,976
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These savings are intended to reduce our deficit and debt
RM
billion in 5 years 103
2010 2015 Deficit
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4% (2011 – 2012)
3% (post 2013)
Studies by Bank Negara shows inflation will rise to
2013 2015 2010
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We asked 2 simple questions to the public...
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SMS 1 Malaysia spent RM 74 billion on subsidies in 2009 causing a fiscal deficit. Should subsidies be reduced ?
Yes or No
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SMS 2 If Malaysia reduces its subsidies, should it be done • in 1 year • over 3 years • over 5 years
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What do 191,592 Malaysians think about Subsidy Rationalisation?
SMS Forms Online
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115,703 Malaysians said YES to Subsidy Rationalisation
61%
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124,750 Malaysians responded we should
reduce subsidies in 3-5 years
66%
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We have to face the realities....
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..that this is the most unpopular decision that the Government has to make since independence
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We have no choice but to avoid ending up like Greece
300billion debt
EUR
SOURCE : Deputy finance minister of Greece , Filippos Sahinidis
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This bold step will take us closer to... 2020
Vision
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We may be angry today...
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...so we do not expect people to be dancing on the street
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But the realities are...
47billion RM
Rising debt Rising deficit
362billion RM
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And most importantly...
We must do it for our future and our future generation
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Your feedback is valuable to us..
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..for the future of our country.
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Thank You w w w. p e m a n d u . g o v. m y