SME News | ACCCIM : Subsidy reforms must be gradual

Subsidy reforms must be sequenced and phased in gradually to avoid a big shock to consumers and businesses, says the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).
Its president, Tan Sri Low Kian Chuan, said small price increases were easier to swallow and would allow people and businesses to adapt to the new price situation over time.
"We believe that a better and clearer understanding of the fuel subsidy rationalisation can foster a sense of shared responsibility and work towards sustainable fossil fuel policies that benefit the economy and environment.
"The reforms require careful design and considerate execution with ease of administration and transparency to minimise 'inclusion and exclusion' errors as well as better enforcement to enhance its effectiveness."
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