Malaysian PM unveils measures to ease rising food prices

STORY: Malaysian PM unveils measures to ease rising food prices DATELINE: June 23, 2022 LENGTH: 00:01:56 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: various of a shopping mall in Malaysiavarious of street view in Malaysia STORYLINE: Malaysian Prime Minister Ismail Sabri Yaakob unveiled measures on Wednesday, aimed at easing the rising cost of living, as the country copes with increased food prices. Among these is an increase in cash aid for lower-income households, in view of the removal of certain subsidies and ceiling prices including for bottled cooking oil, he said in a televised speech. The prime minister said the government will continue to subsidize cooking oil sold in polymer bags, with 4 billion ringgit (0.9 billion U.S. dollars) set aside for the purpose this year, up from 500 million ringgit in 2020 and 2.2 billion ringgit in 2021. He also said 8.6 million people will be targeted for cash aid to cope with the rising cost of living, amounting to 1.74 billion ringgit which will