PEKAN - 1Malaysia People’s Aid (BR1M) was a proposal by Bank Negara Malaysia to enable targeted subsidy to be carried out for the benefit of the people, the Prime Minister said.
Datuk Seri Najib Tun Razak shared the background of how BR1M came to be in order to counter Opposition allegations, including the claim that it is a way of buying votes.
Speaking to a crowd of about 2,000 BR1M recipients, he said the aid was proposed by the central bank and adopted by the Barisan Nasional Government as an alternative to one-off subsidies.
“This (targeted) subsidy is better than one-off subsidy, which has many points of leakage.
“For example, with RON95 petrol, people with big cars benefit more (from the subsidy) than those who drive a Proton Saga or Myvi,” he said at the launch of the national-level BR1M at the Sultan Ahmad Shah Convention Hall here yesterday.
Also present were Pahang Mentri Besar Datuk Seri Adnan Yaakob and Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah.
Therefore, with this targeted subsidy in mind, the Government felt it was time for a policy change that gave huge benefits to the people such as the distribution of BR1M, said Najib, who is also