KUALA LUMPUR, March 14 – Malaysia’s subsidy bill to maintain the price of RON95 petrol at RM1.99 per litre could reach RM24 billion by the end of the year if the Middle East conflict continues, Prime Minister Anwar Ibrahim said.
The estimate is based on calculations that the government currently spends about RM2 billion each month to sustain the subsidy under the BUDI95 scheme amid rising global oil prices.
Despite the increased cost, Anwar said the government remains committed to maintaining fuel subsidies to avoid burdening Malaysians with higher living expenses.
He added that the government will explore cost-cutting measures and improve financial management in other sectors to fund the subsidies.
While closely monitoring global developments affecting fuel prices.
