Zahid: Putrajaya mulling raising fuel subsidy amid rising prices

zahid-petrolBAGAN DATUK: The Ministry of Finance is looking into the possibility of raising fuel subsidies to ensure that fuel prices do not continue to increase in the market.

Deputy Prime Minister Ahmad Zahid Hamidi said the matter would be brought to the National Economic Council meeting tomorrow for further discussions.

“We are studying it (raising subsidies),” he told reporters after launching the National Blue Ocean Strategy Fiesta in Sekolah Menengah Kebangsaan Hutan Melintang here today.

The one-day programme was organised by the National Strategy Unit of the Finance Ministry in collaboration with the Ministry of Tourism and Culture.

Zahid said this when asked on the government’s efforts to ensure fuel prices in the market did not continue to rise.

At present, the price of RON 95 petrol is RM2.38 per litre while RON 97 and diesel are at RM2.66 and RM2.25 per litre respectively.

Meanwhile, Treasury secretary-general Mohd Irwan Serigar Abdullah, in his speech, urged the people not to believe claims by certain parties that the country would go bankrupt.

He said if the country was going to be bankrupt, the government would not be able to afford the 2018 Budget with an allocation of RM280.25 billion.

The rumours were also unfounded as the gross domestic product for the third quarter of this year recorded a growth of 6.2% as announced by Prime Minister Najib Razak on Friday, proving that Malaysia was expanding rapidly in the region, he added.