KUALA LUMPUR: The government is expected to increase its subsidy allocation next year on the back of rising oil prices, which could lead to higher sub...
: The government is expected to increase its subsidy allocation next year on the back of rising oil prices, which could lead to higher subsidy for petroleum products, said Economy Minister Rafizi RamliHe cautioned that the country’s subsidy expenditure could go higher going forward amid rising global energy prices in the background, especially if the government is unable to minimise the gap between subsidised and unsubsidised diesel.
“The amount that we are paying now is actually small compared to what we will have to pay in the future,” Rafizi said on the sidelines at the launch of the 28th Malaysia Economic Monitor: “Raising the tide, lifting all boats” by The World Bank today. Subsidies for petroleum products recorded the highest at RM45.184 billion, or 81.5 per cent of the total expenditure.
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