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?