Prime Minister Datuk Seri Najib Tun Razak said that when implementing the subsidy rationalization plan, the Government would seek not to burden the people.
He said the rationalization move was necessary to reduce Government expenditure and strengthen the financial position of the country.
From Friday, the subsidies for sugar, petrol, liquefied petroleum gas and diesel will be cut as part of the gradual subsidy rationalization programmed.
Subsidy rationalization will allow Malaysia to reduce Government expenditure by more than RM750 million this year. The Government will still spend an estimated RM7.82 billion on fuel and sugar subsidies this year. The prices of fuel and sugar in Malaysia will still be among the lowest in the region.
The decision to reduce subsidies for fuel and sugar is based on the fact that reducing fuel subsidies will have the greatest impact on government spending while reducing sugar subsidies will help promote healthier lifestyles.
The price of sugar will go up 25 sen to RM1.75 per kg; LPG will go up 10sen to RM1.85 per kg; petrol RON95 will be up 5 sen to RM1.85 per liter and diesel will be up 5sen to RM1.75 per liter.
RON 97 will no longer be subsidized. It will be subjected to a managed float, where the price will be determined by the automatic pricing mechanism.
He said the rationalization move was necessary to reduce Government expenditure and strengthen the financial position of the country.
From Friday, the subsidies for sugar, petrol, liquefied petroleum gas and diesel will be cut as part of the gradual subsidy rationalization programmed.
Subsidy rationalization will allow Malaysia to reduce Government expenditure by more than RM750 million this year. The Government will still spend an estimated RM7.82 billion on fuel and sugar subsidies this year. The prices of fuel and sugar in Malaysia will still be among the lowest in the region.
The decision to reduce subsidies for fuel and sugar is based on the fact that reducing fuel subsidies will have the greatest impact on government spending while reducing sugar subsidies will help promote healthier lifestyles.
The price of sugar will go up 25 sen to RM1.75 per kg; LPG will go up 10sen to RM1.85 per kg; petrol RON95 will be up 5 sen to RM1.85 per liter and diesel will be up 5sen to RM1.75 per liter.
RON 97 will no longer be subsidized. It will be subjected to a managed float, where the price will be determined by the automatic pricing mechanism.
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1 comments:
Is that you agree we have to pay more but our "beast" government continue to overspend in purchasing faulty submarine and others.
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