MoF - RON95 & Diesel Subsidy Won’t Be Raised

The Ministry of Finance (MoF) reaffirms that it has no plans to reduce the current ceiling price of RON95 petrol which stands at RM2.05. According to documents published on the parliament website, this move aims to ease the government’s spending against bearing higher current average subsidy costs for petrol and diesel sales.

According to Deputy Finance Minister Datuk Seri Ahmad Mazlan, the current unit selling price of RON95 petrol and diesel does not reflect the actual increment in crude oil prices globally due to existing subsidies in place to aid Malaysian consumers. He commented on a question posted by Datuk Dr Nik Muhammad Zawawi Salleh (PAS-Pasir Puteh) in regards to the government’s efforts to further restructure Malaysian petrol subsidies.

The minister further elaborated that there would be further updates planned that would look into other methods of improving the subsidisation efforts in a more targeted manner. This would ultimately balance the subsidisation responsibility between the different income groups in the country and reduce subsidy leakages.

Source: BERNAMA