Finance Minister Assures M’sians That The Govt Still Has Enough Money To Continue Fuel Subsidy

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has reassured Malaysians that the government will continue to provide fuel subsidy for the rakyat and that there is still sufficient funds to do so. He further stressed that the government will continue to support Malaysians so as to protect their livelihoods, especially vulnerable groups.

As reported by national news agency Bernama, Tengku Zafrul asserted that the government will continue to do so despite the rising prices of crude oil globally. However, the government will also continue to monitor the global oil prices to craft a long-term plan in which one of the measures that may be implemented is a targeted subsidy.

The Finance Minister clarified that the amount of subsidies for this year will reach RM70 billion, meaning that the fuel subsidy will reach RM30 billion. Last month, fuel subsidy for the country has already reached RM5 billion a month. Despite that, Tengku Zafrul also elaborated that currently, the government has no intention of asking for additional dividend from Petronas to bear the subsidy.

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Also read: “BMW can’t get the same subsidies as Kancil”, Govt To Introduce New Targeted Fuel Mechanism