#Latest news with #subsidycutCNA11 hours agoBusinessCNAMalaysia PM Anwar says govt will press ahead with petrol subsidy cutsVolatility in global oil prices has made it challenging for Malaysia's government to carry out a plan to cut petrol subsidies. Each year, Malaysia spends billions of dollars to keep retail pump prices below market price. Despite concerns over inflation, Prime Minister Anwar has promised to remove the blanket subsidy that will help save the government some US$8 billion. Experts have called for the government to rationalise subsidies and move towards a more targeted one to help those in need. Melissa Goh reports from Kuala Lumpur.
CNA11 hours agoBusinessCNAMalaysia PM Anwar says govt will press ahead with petrol subsidy cutsVolatility in global oil prices has made it challenging for Malaysia's government to carry out a plan to cut petrol subsidies. Each year, Malaysia spends billions of dollars to keep retail pump prices below market price. Despite concerns over inflation, Prime Minister Anwar has promised to remove the blanket subsidy that will help save the government some US$8 billion. Experts have called for the government to rationalise subsidies and move towards a more targeted one to help those in need. Melissa Goh reports from Kuala Lumpur.
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