KUALA LUMPUR: Direct financial aid will be given to the below 40 income group (B40) in a bid to ease the impact of the rising cost of goods, announced Datuk Seri Ismail Sabri Yaakob.

       The new policy, which will take effect from July 1, will see subsidies not be given to chicken breeders.

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       Instead, the subsidy will be given to the people that need assistance, particularly those in the B40 group.

       "The move will ease the burden of the people so they will not feel the pinch of rising cost of goods," he said at Barisan Nasional's 48th anniversary celebration Wednesday (June 1).

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       The Prime Minister added that the details would be announced by the Ministry of Domestic Trade and Consumer Affairs and the Ministry of Agriculture and Food Industry.

       The government, he said, would also set up an agro food fund of RM500mil in soft loans and would identify farmers’ organisations and cooperatives to receive the financial aid.

       Ismail Sabri also said the government would create a buffer stock for chicken, fish and meat.