‘Choppy waters ahead’ for petrol subsidy cut but Malaysia will factor in not just household income: Minister

Quick Summary:

There will be Malaysians unhappy with the subsidy rollback, but it is the government’s responsibility to manage the cut properly so that it is sustainable, says economy minister Rafizi Ramli.

In June this year, it cut diesel subsidies, resulting in a price increase of about 50 per cent for the fuel, but provided cash assistance to eligible owners of diesel vehicles, as well as small-scale farmers and commodity smallholders.

According to the Malay Mail, Malaysia has subsidised petrol prices since the early 1980s to keep fuel prices affordable for Malaysians while facilitating economic growth.

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Article Details

Category: EconomyBusiness

Markets: SingaporeBruneiMalaysia

Topics: Income Cent Rafizi Malaysians Ron95 Malaysia Fuel Subsidy Subsidies Petrol Minister

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 15:35:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 730 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23149388

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