RON95 petrol subsidy reforms may start soon, saving RM4 billion annually, amid rising fiscal pressures and increased enforcement against misappropriation and smuggling
IPOH – The government will continue sustaining the RON95 petrol subsidy despite mounting global oil prices driven by Middle East tensions. Political secretary to the Finance Minister, Muhammad Kamil Abdul Munim, said Malaysia must remain adaptable to safeguard economic stability while ensuring public welfare.
He noted that subsidy costs have surged dramatically, rising from RM700 million to RM4 billion monthly. Malaysia’s resilience, he explained, stems from earlier cost-saving measures and subsidy restructuring. However, he cautioned that no country can indefinitely absorb escalating costs without policy adjustments.
On Petronas’ profits, Muhammad Kamil stressed that Malaysia still imports oil to meet domestic demand, limiting reliance on dividends for subsidies. He emphasized that Petronas’ earnings also support operational needs.
Meanwhile, he welcomed the government’s plan to brief opposition leaders on the Middle East crisis, underscoring the importance of bipartisan cooperation in navigating economic challenges.
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