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KL scraps decades-old fuel subsidy policy

PM NAJIB: Wants to trim M'sia's fiscal deficit from 3.9% of GDP in 2013 to 3.5% this year and 3% in 2015

Kuala Lumpur

MALAYSIA will abolish subsidies for petrol and diesel starting next month as falling oil prices provide Prime Minister Najib Razak the opportunity to end a decades-old policy of cheap fuel.

The cost of the widely used RON 95 grade of petrol and diesel will be based on