To educate the people to be more wise on spending the 1Malaysia iad BR1M, the government is conducting researches on how should the aid to be distributed.
Alliance Banking Group chief economist, Manokaran Mottain also said BR1M could results unproductive spending. The economist suggested that the government could look into the possibility of offering low-income households a discount card to buy their daily essentials to replace 1Malaysia People’s Aid (BR1M).
He said the BR1M card should act like a prepaid or top up card, whereby every month a certain amount of money would be credited into the card. The amount be used only for a specific number of essential items or goods.
About 6 million applicants had succeed to receive their right in BR1M this year and we expect to see the number of benefiters increase in BR1M 2015.
Meanwhile, our second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the card system has been adopted in some developed countries such as the United States and the United Kingdom.
The purpose of the discount card that can be inserted in the MyKad, to enable the low income households to enjoy discounts for the purchase of groceries and fuel, and this may be the better solution for a longer term than the one-off pay – BR1M in form of cash.
BR1M might come in the form of card in 2015, what’s your thought?