KUALA LUMPUR – The government has no intention to lower the current ceiling price of RON95 petrol and subsidised diesel, the Finance Ministry (MoF) said.
In a written reply published on the Parliament website, MoF said this is to prevent the government from continuing to bear higher subsidy amounts.
“To continue protecting consumers from the effects of crude oil increase in the global market, the government still maintains the ceiling price of RON95 petrol and subsidised diesel until now even though the real market price has exceeded the set ceiling price,” the ministry said.
The ministry was responding to a question from Datuk Nik Muhammad Zawawi Salleh (PAS-Pasir Puteh) about the government’s plans related to the restructuring of petrol subsidies.
However, the ministry said the government is exploring measures to improve the provision of subsidies in a more targeted manner to reduce leakages and balance subsidy responsibilities with the need to continue to preserve the people’s welfare and wellbeing.
It added that subsidy savings could also be used to optimise spending on programmes and projects that added value to the national economy. – Bernama, March 6, 2023
