You are here

Malaysia to scrap nearly all subsidies for cooking oil

Subsidy will be kept only for the 1kg bag used by the poor. Putrajaya aims to deter smuggling and save on expenses

BT_20161027_PNSUB25_2567646.jpg
Stocks of cooking oil have been flying off the shelves as Malaysians stock up ahead of an expected price hike after Nov 1.

Kuala Lumpur

MALAYSIA will scrap the government subsidy for bottled cooking oil in a move to consolidate its finances and to deter people from smuggling it out of the country, where it is sold at higher prices for profit.

Domestic trade minister Hamzah Zainuddin confirmed that only

sentifi.com

Market voices on:

Powered by GET.comGetCom