KUALA LUMPUR (June 11): A top adviser to Prime Minister Tun 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 kinds of aid, and cash handouts known as BR1M, said Tun Daim Zainuddin, 80, who leads Dr 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 […]
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