Malaysia has no plans to impose carbon tax in near future

Malaysia’s Finance Ministry (MoF) said on February 16 that the government has not yet intended to impose a carbon tax in the near future.

Malaysia has no plans to impose carbon tax in near future -0
Photo: www.nst.com.my

However, the ministry may introduce the tax in the long term and will study the feasibility of it as one of the ways to support the nation's goal of reducing greenhouse gas emissions by 45% based on the Gross Domestic Product in 2030, as targeted in the 12th Malaysia Plan.

According to the MoF, a comprehensive research is needed to assess the impact of such a tax on industry and consumers. 

The carbon tax mechanism will be guided by the carbon mitigation policy of the Ministry of Natural Resources, Environment and Climate Change and in line with the National Low Carbon Aspiration 2040 plan as defined under the National Energy Policy, the ministry said in a press release on February 16.

The MoF also revealed that the formulation of the carbon tax will need to be aligned with fuel subsidies so that the objectives of the two policies did not contradict one another.

The government will focus on the need to develop the country in a green, sustainable manner that prioritises low carbon development, sustainability and environmental protection, it said

World

RoK, Singapore to deepen AI, defence cooperation
World

RoK, Singapore to deepen AI, defence cooperation

The Republic of Korea (RoK) and Singapore discussed cooperation in artificial intelligence (AI), defence, and supply chain management during talks between Singaporean Prime Minister Lawrence Wong and visiting RoK President Yoon Suk Yeol on October 8.

Singapore dollar hits 10-year high
World

Singapore dollar hits 10-year high

The Singaporean currency (SGD) is trading against the USD at its strongest level in almost a decade, touching new highs in recent weeks amid lower US interest rates coupled with investors' confidence in its resilient economy.

Malaysian retail chains say no to single-use plastic bags
World

Malaysian retail chains say no to single-use plastic bags

Some 16 retail chains across Malaysia have pledged to no longer provide single-use plastic bags to customers from October 1, said Minister of Housing and Local Government Nga Kor Ming at the “Say No to Single-Use Plastics” campaign in Kuala Lumpur on September 26.

Indonesia builds new data centre
World

Indonesia builds new data centre

The Indonesian government is currently constructing a new national data centre (PDN) in Bekasi and will build another two in Batam and Nusantara capital city (IKN), Political, Legal, and Security Affairs Coordinating Minister Hadi Tjahjanto has stated.

Japan continues support for Vietnam’s typhoon relief efforts
World

Japan continues support for Vietnam’s typhoon relief efforts

The Governor of Japan’s Yamanashi prefecture, Nagasaki Kotaro, on September 24 presented the token of 1 million JPY (over 6,900 USD) to the Vietnamese Embassy in Japan to support the country’s disaster relief efforts in the wake of Typhoon Yagi and its subsequent floods and landslides.