Daim Zainuddin says the money spent on subsidies, aid and BR1M could be channelled to the fund, which will invest in assets where returns are distributed as basic income each month. More than seven million people have been approved to receive BR1M this year, amounting to RM6.12 billion of state spending. (Bernama pic) KUALA LUMPUR: A top adviser to Prime Minister Dr Mahathir Mohamad is considering an overhaul to Malaysia’s social safety net by setting up a fund that pays out basic income to the poor.
Last year alone, the government spent about RM37 billion (US$9.3 billion) on subsidies, various […]
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