Govt ready to pay RM45bil a year to absorb fuel subsidy costs
Prime Minister Anwar Ibrahim rejects the view that generous subsidies make the people overly dependent on government assistance.
Malaysian Prime Minister Anwar Ibrahim has pledged to shoulder the financial burden of fuel subsidy costs, potentially reaching RM45 billion annually, instead of raising petrol prices. Despite global crude oil prices soaring to between US$120 and US$130 per barrel, the government remains committed to maintaining RON95 petrol at RM1.99 per litre.
This move aims to shield the public, especially low- and middle-income families, from the impact of rising fuel expenses, which could add an additional RM2-RM5 to daily living costs for many. Anwar emphasized that it is more prudent for the government to bear the financial strain rather than pass the burden onto the people's daily budgets.
The statement was made during a program at the Hang Jebat Sports Complex, where the National Cost of Living Action Plan 2030 was also unveiled.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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