GEORGE TOWN, Sept 22 — The petrol price in Malaysia remains as one of the lowest in the world even as the country rolls out subsidised fuel price at RM1.99 per litre for RON95 this September 30.
Finance minister II Datuk Seri Amir Hamzah Azizan said the subsidised fuel price for Malaysians is among the lowest in the world.
“Even if we raise the fuel price according to market price, the fuel price in our country will still be one of the cheapest in the world, not only in this region,” he said in a press conference after visiting Pulau Betong in Balik Pulau here.
He said subsidised rate of RM1.99 per litre for all Malaysians will remain unchanged regardless of the market prices.
“The price will not drop even if the market price was to drop, it will remain at RM1.99,” he said.
With the introduction of the subsidised petrol of RM1.99 per litre for Malaysians, Amir Hamzah said the government will be able to reduce leakages and use the savings for other programmes such as the Sumbangan Tunai Rahmah (STR).
“We estimated a savings of between RM2.5 billion to RM4 billion per year through this subsidy scheme that will prevent leakages and our subsidised petrol being sold to foreigners,” he said.
Meanwhile, on his official visit to Pulau Betong as one of the Kampung Angkat Madani, he said the government allocated RM200 million to benefit 200 Kampung Angkat Madani in the country.
“About RM1 million will be allocated to upgrade the facilities and infrastructure in Pulau Betong as this fishing village has the potential to be a tourism destination,” he said.
He said with upgraded facilities to make the village an attraction, it will boost the local economy and businesses.
