KUALA LUMPUR, June 12 — The government plans to focus on the implementation of diesel subsidy rationalisation first before moving to cut back on subsidies involving RON95 petrol fuel.
"We are focusing on the diesel subsidy (rationalisation) first, and when it is stable, we can see what else we have to do," Finance Minister II Datuk Seri Amir Hamzah Azizan said when asked about when the rationalisation of the RON95 subsidy will be carried out.
He was speaking to the press after his keynote speech at Bank Negara Malaysia’s Sasana Symposium today.
On Sunday (June 9), Amir said the price of diesel at all Peninsular fuel retail stations was set at RM3.35 per litre starting on Monday (June 10).
When announcing the matter, he said the new price was the market price without subsidies based on the average price of May 2024 according to the Automatic Pricing Mechanism formula.
The targeted pricing and implementation of diesel subsidies can provide savings of RM4 billion per year for the government while also strengthening the country's financial position for the long term.
— Bernama
