Fahmi Fadzil: Cooking Oil Prices Remain Low & Eggs Drop by 3 Sen Thanks to Diesel Blanket Subsidy Removal

The removal of the diesel blanket subsidy in favour of a targeted subsidy mechanism has been all the headlines in Malaysia recently, echoing the rakyat‘s concerns that the removal would cause a domino effect resulting in the increase of prices for goods and services.

Seeking to allay such fears, Communications Minister Fahmi Fadzil has assured that the diesel blanket subsidy removal won’t affect the ordinary rakyat, saying that the prices of goods are guaranteed and that individuals would still enjoy subsidies in the form of cash aid.

“What is the Government doing with the money?”

Communications minister, fahmi fadzil

Taking to his official X (formerly Twitter) account, Fahmi, who is also the spokesperson for the Unity Government, sought to answer the question that has been making its rounds on social media, which is,

“If the diesel subsidy is removed for the ultra-rich and smugglers, what is the Government doing with the money saved?”

Answering the above question, the Communications Minister said that the Government is channelling back the money saved from the diesel blanket subsidy removal to the rakyat.

3 ways the funds saved are being channelled back to the rakyat

For illustration purposes

He then listed down 3 ways in which the funds saved from the blanket subsidy removal are being channelled back to the people, the 1st being that companies can still enjoy diesel subsidies as per the previous price by using Fleet Cards.

Next, Fahmi said that individuals will also still enjoy diesel subsidies through the BUDI MADANI cash aid, which gives eligible Malaysians RM2,400 per year or RM200 per month.

Lastly, the Communications Minister stressed that for ordinary citizens, savings from the blanket diesel subsidy removal guarantee that the prices of essential goods are under control.

Fahmi then referenced the good news from Prime Minister Datuk Seri Anwar Ibrahim who announced that prices of eggs have gone down by 3 sen.

Furthermore, the Communications Minister also attached a graphic with 3 essential goods and asserted that their prices remained low due to savings from the diesel blanket subsidy removal.

The items include:

• Palm oil cooking oil 5kg – RM30.90 (remained)
• Palm oil cooking oil 1kg – RM6.90 (remained)
• Grade A eggs – 42 sen (down 3 sen)
• Grade B eggs – 40 sen (down 3 sen)
• Grade C eggs – 38 sen (down 3 sen)

“Kalau subsidi diesel ditarik daripada golongan mahakaya dan penyeludup, penjimatan tu Kerajaan buat apa?”

Ini jawapannya. Wang yang diselamatkan daripada penyeludup dipulangkan semula kepada rakyat.

1) Bagi syarikat, masih menikmati subsidi diesel dengan harga biasa melalui… pic.twitter.com/FBHODkBxES

— Fahmi Fadzil ?? (@fahmi_fadzil) June 17, 2024

So, what do you guys think of Fahmi’s post? Share your thoughts with us in the comments!
Also read: “This is the good news?” – M’sians are Not Impressed by PM’s ‘Good News’ of Egg Prices Going Down by 3 Cents