MoF to discuss fuel subsidy hike today

By BERNAMA / TMR File pic

The Ministry of Finance (MoF) is looking into the possibility of raising fuel subsidies to ensure that fuel prices do not continue to increase in the market.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the matter would be brought to the National Economic Council meeting today for further discussions.

“We are studying it (raising subsidies),” he told reporters after launching the National Blue Ocean Strategy Fiesta at Sekolah Menengah Kebangsaan Hutan Melintang in Bagan Datuk, Perak, yesterday.

The one-day programme was organised by the National Strategy Unit of MoF in collaboration with the Ministry of Tourism and Culture.

Ahmad Zahid said this when asked on the government’s efforts to ensure fuel prices in the market will not continue to rise.

At present, the price of RON95 petrol per litre is RM2.38, while RON97 and diesel are RM2.66 and RM2.25 respectively.

Meawhile, Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah, in his speech, urged the people not to believe claims by certain parties that the country would go bankrupt.

He said if the country was going to be bankrupt, the government would not afford to table Budget 2018 with an allocation of RM280.25 billion.

He added that the rumours were also unfounded as the gross domestic product for the third quarter of this year recorded a growth of 6.2%, as announced by Prime Minister Datuk Seri Mohd Najib Razak last Friday, proving that Malaysia is expanding rapidly in the region.