No plans to lower RON 95, diesel ceiling prices – MoF –

The government has no intention to lower the current ceiling prices of RON 95 petrol and diesel, which are presently being subsidised. The ministry of finance said this is to prevent the government from continuing to bear higher subsidy costs, Bernama reports.

“To continue protecting consumers from the effects of crude oil increase in the global market, the government still maintains the ceiling prices of RON 95 petrol and subsidised diesel until now, even though the real market prices have exceeded the set ceiling prices,” the ministry said in a written reply published on the parliament website.

The ministry was responding to a question from Datuk Dr Nik Muhammad Zawawi Salleh (PAS-Pasir Puteh) about the government’s plans related to the restructuring of petrol subsidies.

It said the government is exploring measures to improve the provision of subsidies in a more targeted manner to reduce leakages and balance subsidy responsibilities with the need to continue to preserve the welfare and well-being of the people.

The matter of targeted subsidies remains one of the more pressing issues that need to be addressed by the government. Prime minister Datuk Seri Anwar Ibrahim has renewed the push to implement such a scheme, having asked relevant government ministries to explore the impact of such a move last year. It was expected that an announcement of some sort would be made during the retabling of Budget 2023, but it looks like the wait continues.

Source: Read Full Article