Finance Minister: Govt To Provide Fuel, Cooking Oil Subsidies Of Up To RM8 Billion This Year
Author Avatar
finance minister tengku zafrul abdul aziz
(Image: Malay Mail)

The Malaysian government is expected to provide fuel and cooking oil subsidies of up to RM8 billion this year – which is RM4.22 billion higher than the original RM3.78 billion originally allocated for 2021.

In 2020, the government spent RM2.16 billion on fuel and cooking oil subsidies while in 2019 a total of RM6.32 billion was spent.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said that the higher allocation this year was due to an increase in current global market prices. Following the increase in commodity prices globally, it is expected that government subsidies for RON95 petroleum products, diesel, liquefied petroleum gas (LPG), and subsidised cooking oil will increase sharply.

“The government is prepared to bear the higher subsidy expenditure to preserve the well-being of the people and the viability of business, especially small traders,” said the finance minister. Tengku Zafrul added that the government would continue to help the people through various measures, including continuing to subsidise fuel and cooking oil to reduce the impact of rising commodity prices on the people’s cost of living.

According to Tengku Zafrul, the government will continue the price maintenance policy of RM2.05 per litre for RON95 petrol and RM2.15 per litre for diesel. Meanwhile, LPG has been maintained at RM1.90 per kg since June 2015 and subsidised cooking oil has been kept at RM2.50 per one kg pack since 1997.

Furthermore, the finance minister said that various Budget 2021 measures and improved initiatives through PERMAI, PEMERKASA, and PEMERKASA+ will continue to be channelled at least until the end of the year.

(Source: The Star)

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Household Budgeting Articles
Top Household Budgeting Articles
Post Image
How Much Does Water Cost in Malaysia?
Ahmad Mudhakkir
- 25th January 2019
In light of the recent news that Selangor and the Federal States' water supply might get more expensive, we check out how much the rest of the country is paying for their water supply.
Post Image
The Government Is Offering RM200 Rebate On Energy Efficient Appliances – Claim It Now On Shopee
Jacie Tan
- 4th January 2021
The SAVE 2.0 programme, which allows Malaysians to claim RM200 vouchers to use on purchases of energy-efficient air […]
Post Image
6 Part-time Ways to Make Money
Denise Chan
- 25th October 2018
Have you suddenly found yourself out of a job, strapped for cash or making the decision to be a stay-at-home-parent? Here are some ways on how to earn money online in Malaysia for extra cash without a full-time job.
Post Image
Mean Monthly Salaries In Malaysia 2020 Fell By 9% In First-Time Decline
Jacie Tan
- 14th July 2021
Mean monthly salaries and wages have fallen by 9% in 2020 – the first-time decline since the Salaries […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image