KUALA LUMPUR, OCT 2, 2014:
Domestic Trade, Cooperatives and Consumerism (KPDNKK) Minister Datuk Seri Hasan Malek said the move to reduce fuel subsidies was not meant to burden the people.
“It was done to strengthen our financial reserves,” he said at a press conference at the Malaysia’s Intellectual Property awards held in Bank Rakyat Twin Towers here today.
Hasan noted that they needed the support of businessmen and the people.
“Be patient and wait for the 2015 Budget to be announced.
“There will be steps in the budget to lessen the people’s burden,” Hasan said, adding that the ministry will also be monitoring a ripple effect that might lead to price hikes.
“We will be observing this 24 hours a day and if anyone is guilty of increasing prices we will take strict action against them.
Hasan called the hike a “minimal increase” and explained there was no proper timing for a hike.
“If we raised it after Hari Raya Haji it would be close to Deepavali and after that would be close to Christmas. We will anger one community which ever we choose.”
He disagreed that the hike was an indication that the government did not manage the nation’s funds well.
Hasan however did not elaborate further on this, and had also declined to comment if the goods and services tax (GST) would be imposed on fuel.
When asked if there will be another hike next year, he said: “I can’t promise there won’t be one”.
Hasan’s ministry announced yesterday that the subsidy for RON95 petrol and diesel would be reduced by 20 sen a litre effective midnight.
The selling price for RON95 is now at RM2.30 a litre while diesel is at RM2.20 a litre.
Post time 2-10-2014 02:36 PM
