Malaysian deputy finance minister Liew Chin Tong has said that the government projects to spend about RM2 billion and RM1.5 billion a month to subsidise RON 95 petrol and diesel respectively, if crude oil prices remain at around US$90 (RM368) a barrel, Bernama reports.
“The government also earns revenue from petroleum. Every US$1 (RM4) increase in the price of oil per barrel is expected to generate an additional RM300 million in government revenue,” Liew said, adding that so far, Malaysia’s fiscal position remains strong and fiscal projections are unchanged despite the increase in crude oil prices.
“In October, when prime minister Datuk Seri Anwar Ibrahim presents the 2027 Budget, the government will announce updated fiscal projections based on the prevailing economic conditions at that time,” he said.
He was responding to Senator Datuk Dr Mohd Na’im Mokhtar, who asked today in the Dewan Negara if the government is confident of maintaining its fiscal deficit target should global crude oil prices exceed current projections, and what contingency plans have been made to address such a situation.
From just RM700 million in January, Malaysian fuel subsidies ballooned to RM5 billion in March before peaking at RM7.5 billion the following month, due to the rise in global oil prices brought about by the ongoing West Asian conflict.
Regarding a proposal to raise the Budi Diesel quota for Sabah and Sarawak, the deputy finance minister said the government is prepared to consider applications from specific groups. “As an example, pick-up truck owners have been granted an additional quota of 100 litres through a very simple application process. If there are specific cases that warrant consideration, the government is prepared to review them,” he said.
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RM40 billion subsidies annually, continuously being spent and raising national debt = negara maju bawah Madani
but 1mdb debt is purely debt with no return nor benefit whatsoever.
economics isnt your strong suit.
What worry most is International financial vultures is waiting at the sideline. Any time they may attack MYR currency. With low money reserve how to defend and fight off them ?
Selagi Hormuz tak aman, tak perlu cukai eksais dan cukai duti pada kereta EV. Sehigga Hormuz aman barulah dikenakan cukai eksais dan duti pada EV.
Sekurangnya kalau 20% population pakai EV, banyak dah kerajaan jimat dari subsidi petrol dan diesel.
Pungutan cukai duti dan eksais tahun 2025 semua kenderaan ialah 12.51 billion. (Gemini)
Peratusan jualan kereta EV dari semua kenderaan yang dijual di Malaysia pada 2025 ialah 5.15%. (Gemini)
Dari matematik mudah, kalau tahun 2026 jualan EV meningkat jadi 10% dari semua kenderaan dijual, pertambahan pungutan cukai eksais dan duti ialah sebanyak 1.251 Billion sahaja setahun.
Sedangkan subsidi bulanan petrol dan diesel ialah 3.5billion SEBULAN. kalau setahun dah jadi lebih 40billion.
40 billion subsidi (duit keluar) vs 1.25 billion kutipan cukai duti dan eksais (duit masuk).
80,000 orang tak mati kot, kalau EV tak kena cukai eksais dan duti.
Nobody has the political will & bravery to revoke that right. No matter which colors the party the PM represents.
The problem is Rakyat already manja with subsidy. Its our Right, they say.
Nobody has the political will & bravery to revoke that "right". No matter which party the appointed PM is from.
Hahahaha.
Anthony Loke should reverse this ban.