Kuala Lumpur: Economy Minister Rafizi Ramli today said that the government will finalise its plans to phase out the B40, M40, and T20 income classifications in a few weeks.
He said that once it is decided, the next step will be to identify eligible recipients for RON95 subsidies.
Advertisement“This proposal has been communicated, but a formal decision needs to be made because, currently, since the 10th Malaysia Plan, the government’s policy has indeed been to use the B40, M40, and T20 method.
“This process is currently underway, and, God willing, in the coming weeks, we will finalise the government’s agreement to adopt the Ministry of Economy’s proposal.
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In 2023, Putrajaya announced plans to move to “household net disposable income” instead as a metric to classify Malaysians’ income, which is aimed at making subsidies more effective in assisting those facing financial difficulties.
Advertisement (adsbygoogle = window.adsbygoogle || []).push({});Malaysia currently divides households according to their income — into the bottom 40 per cent, middle 40 per cent, and top 20 per cent — with financial aid and policies tailored to these.
