Govt prepared to absorb fuel subsidy costs of up to RM45bil a year, says Anwar
Malaysian Prime Minister Anwar Ibrahim announced that the government is prepared to absorb up to RM45 billion in annual fuel subsidies to keep RON95 petrol prices stable. This measure aims to protect citizens from the impact of rising global crude oil prices.
Why it matters
This decision highlights the fiscal challenges governments face in balancing national budgets against the cost-of-living pressures on their citizens.
MELAKA: The government is prepared to absorb an increase in fuel subsidy costs, which could reach RM45bil annually amid a surge in global crude oil prices.
Prime Minister Datuk Seri Anwar Ibrahim said the government would maintain the price of RON95 petrol at RM1.99 per litre while international crude oil prices climb to between US$120 and US$ 130 a barrel.
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