KUALA LUMPUR: A top adviser to Prime Minister 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 37 billion ringgit ($9.3 billion) on subsidies, various kinds of aid, and cash handouts known as BR1M, said Daim Zainuddin, 80, who leads Mahathir’s handful of inner-circle advisers known as the Council of Eminent Persons.
That money could instead be channeled to the fund that will then invest in assets where returns are distributed as basic income each month instead of one-time […]
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