Malaysia has enough supplies to maintain subsidised transport fuel price, PM Anwar says
The Cabinet will hold a special meeting on Friday to review the country’s fiscal position
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[KUALA LUMPUR] Malaysia has sufficient fuel supplies and can maintain subsidies for a widely used transport fuel, Prime Minister Anwar Ibrahim said on Wednesday (Mar 11), amid a surge in global oil prices stemming from the conflict in the Middle East.
The government will keep the price of the RON95 transport fuel at RM1.99 (S$0.32) per litre despite a spike in prices, and checks with state energy firm Petronas show oil supply reserves are enough to last until May, Anwar said in a televised announcement.
“The government is able to shield the people from the full impact of rising oil prices and other essential goods,” Anwar said.
Government officials have been ordered to limit overseas travel, while all government agencies and government-linked companies will not be organising celebrations for upcoming Eid al-Fitr festivities, he added.
The Cabinet will hold a special meeting on Friday to review the country’s fiscal position, Anwar said, adding the government will closely monitor developments in the Middle East. REUTERS
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