Prime minister Datuk Seri Anwar Ibrahim has said that he did not agree with the move to increase fuel prices when the country was facing global supply crisis, Bernama reported. Instead, the government would try to cover the cost of fuel subsidies by incurring large expenses every month to avoid burdening the people, the prime minister said.
When the price of oil increased, Malaysia paid “RM5 billion, RM3 billion a month”, followed by an increase to RM7 billion a month before reducing to RM4 billion a month, the prime minister said on Sunday.
If the government released RM3 billion every month for a period of 10 months, the total would be RM30 billion, and although this was a large amount, the government could cover it through austerity measures in addition to stopping the leakage of national funds, he said.
The prime minister rejected proposals from certain parties for the government to take out loans, or to go into debt to enable the government to continue the cost of oil subsidies. “If they ask for debt, I can go into debt now, but after I leave the government, the children will have bear it. That is why the solution is not debt, so we do what we can,” he said.
Last month, senior economic and finance adviser at the prime minister’s office, Nurhisham Hussein said that any adjustment of RON 95 petrol subsidies will be a last resort due to its direct impact on household spending.
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Give it a rest, you wont win next election despite these subsidies, the best you can do is slowly remove the addition.
Well once it goes up don’t bring it down, this is your chance to end the subsidy drug addiction, do away with the subsidy. People need to curb their joyrides and needless wastage of fuel. Vehicles that are way old to be fit for the roads need to be totally written off, those are highest fuel consumers and there are a lot of those junk out on the roads. High fuel prices will force those low-lifes to finally get rid of those dastardly trash cans on wheels.
Mass EV + Solar power adoption is one of the key to address oil subsidy, but latest MITI move wont support that. is a catch 22.
Beside improvement in public transport , in longer term should have holistic solution as all PPR flat will plan around train /mrt /bus and make compulsory developer to come out with plan that meet the public transport 1st .
nicely said for the upcoming Johor election.
now that international fuel price is high, isn’t that Petronas will make more money that government can use to lessen the subsidy burden?
why are we only focusing on the increase in the subsidy side and not talking about the extra income by Petronas?
You’ve hit the right point. Petronas has even a bigger stake in pushing MITI to do what it does. It’s not just down to protecting P1/P2. Petronas is the biggest player here, they don’t care about P1/P2 if they went bankrupt tomorrow so long as any ICE vehicles buy their refined products. Oil lobby is strong world wide. Oil lobby are the true criminal scum.
Because they need to give 30% to PETROS as a deal for political support.
Gomen say fuel subsidy very expensive.
MITI ban affordable EVs except Potong and Perodaihatsu.
Make Uganda gomen look competent and smart.
Despite already having 7 reported Ebola cases in Uganda, the Ugandan government could not stop some of their citizens who are Arsenal FC fans, from forming crowds to celebrate Arsenal as EPL champions, in contrast to social distancing to prevent further Ebola cases.
the issue is too many cars on the road and new 1 sold too many every yr! Some honest suggestions:
1. increase min dpayment to 20%
2. max installment to 7yrs
3. Scrap 20yrs old cars tht doesnt pass safety inspection.
4. new car launch above 50k must have phev or hybrid system or an EV.
5. Built more solar covered parking roof to generate electricity while encourage EV adoption.
6.New landed property must come with solar panel and ev charging, while highrise property must provide amble of ev charging facilities.
7. Provide grant for existing property to install solar panel and ev charger.
When volume of petrol cars reduce, so does the subsidy. The money save, can built more solar panel roof for parking, maintain road, provide grant, etc.
Just my 2 cents!
1st three are pointless. Making people harder to move doesn’t benefit anyone and probably hinder economic growth in long term. Our current economic gain is temporary. We already past peak birth-rate and just started going towards ageing nation. We need more affordable EV under 100k and a few under 50k to reduce fossil fuel dependency. Those petrol subsidies can be use to upgrade our public transportation and cities walkability, not for short-term profit but for long-term economic gains. A nation with better mobility always resulted in better economic growth.
where’s your rm1.50 per liter?
Did you read Anthony Lim’s article dated 20 Sept 2023 about this subject matter?
Just reduce it to 100-150 litre soo ppl will only use subsidised petrol for essentials travelling only. Cant u see how jammed pack the road is on weekends and recent school holiday…..those are just ppl going for holiday & none essentials
This is the biggest lie ever