KUALA LUMPUR, June 25 — The government is planning sweeping reviews of monopolies and preferential agreements with the private sector in a bid to cut expenses both for the public and itself, according to a press report.

The report noted that the zero-rating of Goods and Services Tax (GST) has mostly benefited businesses as prices have not fallen in lockstep while the foregone revenue limited the government’s ability to pay for new targeted subsidies or assistance.

"One of the first things we want to do is ease financial pressures on the poor. So even though some of these reviews were not mentioned in our election manifesto, it doesn’t mean we won’t do it,” a government official told Singapore paper The Straits Times (ST).

Citing sources, ST said the government also wanted both private and state-owned firms to refrain from profiteering in order to lower living costs and government spending.

Just weeks after coming into power, Pakatan Harapan (PH) has already terminated Bernas’ rice import monopoly and revised internet pricing policies, which Communications and Multimedia Minister Gobind Singh Deo said could lower retail prices by a quarter before the year is up.

Other lopsided deals during the previous Barisan Nasional (BN) rule that will likely be targeted include those in telecommunications, energy, food, healthcare and transport industries, ST cited sources as saying.

The paper also cited an unnamed minister as saying that a Cabinet committee headed by Economic Affairs Minister Datuk Seri Azmin Ali will examine medicine supply for public healthcare and Puspakom’s mandatory vehicle checks.

"The push for the committee came from the ministers themselves, not from PM,” the minister was quoted saying.

Also likely to be reviewed are contracts with independent power producers in which the firms were guaranteed profit even if there was no demand for the energy generated.

The ST noted, however, that the IPPs were a legacy from Prime Minister Tun Dr Mahathir Mohamad’s time as the fourth PM.

"The first step is that we are going to have open tenders, but we have a lot of excess capacity now, so there will be no new power plant tenders in the near future. Meanwhile, we will review existing contracts which are unfair,” a source from the government said.

PH politicians previously criticised allegedly lopsided deals with terms unfavourable to the government, and had pushed for reforms.