KUALA LUMPUR, Oct 31 - Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad today suggested the government removed the 30 sen subsidy on fuel prices if the pump price goes below RM1.92 a litre.He said this was based on the declining trend of global crude oil prices which have averaged at US$76.44 per barrel. Shahrir said the subsidy could be utilised for other economic development projects for the betterment of the people.
"The government has spent up to RM16.8 billion just on fuel subsidy and RM2.5 billion on rebates for motorists and motorcyclists. All that means from January to December, we'll be spending about RM19 to RM20 billion," he told reporters after the Umno supreme council meeting.
"If we can save some money on subsidy, that savings will be spent to tackle the issue of economic growth," he said.
Shahrir said there would be a time when fuel price will slide to RM1.92 a litre from RM2.70 per litre set in June.
"And this is going to happen because as we can see, the (downward) trend in the price is happening. So, for November it may be in the range of US$60, below US$70.
"That means the price of petrol at retail level will quite likely go back to RM1.92 if the trend continues," he added. - Bernama
2 comments:
With the current crude oil price, the government is NOT providing much subsidy. Current US unleaded petrol per litre is RM2.34721
this is what you get for the used up pariah politicians who even umno rejected and threw into the garbage heap of political history. how do you think he made his bones and cameback, DO YOU ALL REMEMBER WHO WAS THE CHAIRMAN OF THE PAC, WHICH WAS TASKED TO INVESTIGATE ECM LIBRA SHARE SCANDAL, ESPECIALLY HOW AN UNEMPLOYED COULD BUY SHARES WORTH MILLIONS. WELL FOLKS SHARIR'S PAYMENT FOR TUTUP CASE WAS A MINISTERSHIP A LA UMNO STYLE, YOU COVER MY BACKSIDE I COVER YOURS, WHEN BARANG NAIK VERY FAST THEY PUT UP THE PRICE OF PETROL, NOW THE PRICE OF CRUDE HAS DROPPED THEY ARE GIVING THE SAME LAME ASS EXCUSES TO ROB US BLIND, WHY ARE THE MALAY SUPPORTERS OF UMNO, SO STUPID TO SUPPORT THESE POLICIES, the answer most probably is they have the herd mentality of the kerbaus, they are not only stupid but also blind, here they are letting the umno goons rape their families, wife children and being sodomised by umno, and these fools still dont realise. no wonder they need the crutches, too stupid to learn too hard to teach. bodoh hingga hari akhir di dunia, biar umno jaguh, biar anak bini mati kebuluran, such patriots, well what to expect, brains of gnats.
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