Sunday May 25, 2008
Government to review fuel subsidy
PEKAN: The Government will review its fuel subsidy as the global crude oil prices had pushed subsidy costs beyond its budget for development programmes.
Deputy Prime Minister Datuk Seri Najib Tun Razak said yesterday the Government was looking for appropriate measures to ensure the increase of fuel prices will not burden the lower and middle-income groups as well as not cause the price of other goods to increase.
He added that the Cabinet Committee on Inflation would meet on Tuesday to find ways on what would be the best measures to solve the problem.
Najib said it was hoped the outcome from the meeting would be the new model for government subsidies.
In principle, it will be appropriately applied to the lower-income group while the higher-income group or those who used more fuel would have to pay more, he said.
“Currently there is no indication that fuel prices will go down and once the price is down, the Government will review again,” he said after witnessing the ceremony of the “berkhatan”, “berkhatam al-Quran” and “bertindik” for students in SK Sri Maulana, Kampong Pulau Jawa.
He said the implementation of the new subsidy scheme would be conducted in stages where the financial capacity of the people would be taken into account.
Related Story:
Standardising prices of subsidised goods nationwide
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