Malaysia's Carbon Tax Bill has entered its final drafting stage, according to Deputy Finance Minister Liew Chin Tong. The bill aims to put a price on carbon emissions rather than generate government revenue. It will initially apply to the iron, steel, and energy sectors, which are the country's main sources of greenhouse gas emissions. The government has not yet finalized the tax mechanism or projected revenue from the carbon tax. The announcement was made during a session in the Dewan Rakyat, Malaysia's lower house of parliament. This marks a significant step in Malaysia's climate policy framework as it moves toward implementing a carbon pricing mechanism for heavy industry.
