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Malaysia to Cut Power Subsidies to Large Businesses, Anwar Says

Malaysia will start reducing power subsidies for large businesses and multinational corporations, Prime Minister Anwar Ibrahim said, as the government looks to channel spending toward the needy.

Subsidies should not be given to multinational companies and big MNCs that export, he said in a briefing after chairing a cabinet meeting on Wednesday. Small- and medium-sized enterprises and those involved in agriculture and food production will not be affected, he added.