KUALA LUMPUR — The government will maintain the price of RON95 petrol at RM1.99 per litre under the BUDI95 subsidy programme despite rising global oil prices, as part of efforts to safeguard the interests of Malaysians amid escalating tensions in West Asia.
In a press conference today, Prime Minister Anwar Ibrahim said the worsening conflict in West Asia has begun to impact the global economy through disruptions in energy supply chains and a surge in global oil prices, creating increased uncertainty in international markets.
He said as an open trading nation, Malaysia is also exposed to the spillover effects, including higher transportation costs, pressure on goods prices and challenges to overall economic stability.
To manage fiscal pressures, the government will also implement early cost-saving measures, including cancelling Aidilfitri open house events organised by ministries, government agencies and government-linked companies (GLCs), as well as limiting overseas visits by members of the administration.
Anwar Ibrahim said the government will continue to closely monitor developments in the conflict and take additional steps if necessary to ensure the country’s economic stability and protect the welfare of the people.
-FB ANWAR IBRAHIM
