Malaysian Government will not increase country's fuel prices
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Malaysian Government will not increase country's fuel prices

Kuala Lumpur : Malaysia | Feb 25, 2011 at 6:30 PM PST
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Malaysian premier Najib Razak defended his plans for a 100-storey megatower in Kuala Lumpur

Kuala Lumpur, Malaysia - 26 February 2011

Malaysia's Prime Minister, Datuk Seri Najib Tun Razak told reporters yesterday that the government will maintain its fuel subsidies in spite of the crisis in the Middle East.

Malaysia keeps its fuel prices stable because of subsidies made by the government.

This means that Malaysians will not have to pay more for fuel yet. The Prime Minister said, “We will monitor the situation. There are no plans to increase the price of RON95 petrol at the moment."

However, if the Middle East situation persists, the government will have to review the budget for fuel subsidy. Continuing oil price increases will cause government subsidies to rise from RM10.3bil ($3.4bil) to RM14bil ($4.6bil) this year.

This was revealed by Domestic Trade, Co-operatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob on Thursday.

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Kenneth Ang is based in Kuala Lumpur, Kuala Lumpur, Malaysia, and is an Anchor for Allvoices.
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READ MORE: Malaysia, Prime Minister, Datuk Seri Najib Tun Razak, Najib Tun Razak, Najib, tun razak, fuel prices, ron95 petrol, petrol prices, fuel subsidy, budget, subsidies, price, middle, EAST, oil price, political-news, Business Finance, political-news, RON95, Datuk Seri Ismail Sabri Yaakob, Kuala Lumpur, oil, government
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Post a Comment Comments: 10
Reply
Posted By dunite dunite | about 1 year ago
i'd like our government to hear about your report kenneth ang thanks!
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Reply
Reply By buzz64 Kenneth Ang | about 1 year ago
You'll be surprised that there are Malaysians who will find something negative to say about it. Talk about being ungrateful.

BTW,why not send your rep the link. Lol!
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Reply
Posted By gino510 Gino C. Matibag | about 1 year ago
Congratulations Malaysia. In my country, oil prices increase whether or not world prices decrease. Strange. Rated up!
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Reply By buzz64 Kenneth Ang | about 1 year ago
I know, Gino. Yet many Malaysians are still not happy with the life we have. Maybe they should stay overseas and find out what others are facing.
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Reply
Posted By skooter skooter | about 1 year ago
is Malaysia also an oil producing country? If so, there's no need to raise fuel prices. Good for you!
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Reply
Reply By buzz64 Kenneth Ang | about 1 year ago
We are an oil producing country. Logically, you're right. Politically, I'm not sure.
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Reply
Posted By muhammadyar muhammadyar | about 1 year ago
good news,thanks for sharing,u are fortunate people being in Malaysia.
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Reply
Reply By buzz64 Kenneth Ang | about 1 year ago
Yes, we are fortunate compared to other countries.
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Reply
Posted By mrspleats mrspleats | about 1 year ago
Excellent! great thinking sounds like a government that cares for its people. Your leadership has smarts. Why kill business and make life harder for everyone.

Rated up

Have a nice day!
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Reply
Reply By buzz64 Kenneth Ang | about 1 year ago
It's true. Allowing oil prices to rise will affect businesses and the cost of living for us so it's great that there are no increases now.
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