KOTA KINABALU, JUNE 22 — The announcement of a reduction in the price of subsidized diesel to RM2.10 per litre starting this July proves that the economic reforms and subsidy targeting measures implemented by the MADANI government are starting to provide direct benefits to the people.
Minister in the Prime Minister’s Department (Sabah and Sarawak) Datuk Mustapha Sakmud said the implementation of a targeted subsidy mechanism through the use of MyKad would not only ensure that subsidies reached eligible Malaysians, but would also help reduce leakage and smuggling, which had long affected the effectiveness of the country’s subsidy system.
“This step is also being implemented at a time when the world is still facing geopolitical uncertainty and pressure on the global energy market.
“The ongoing conflict in West Asia demands that the country take a more strategic approach in ensuring energy security and economic stability,” he said in a statement here today.
Mustapha said Malaysia’s move to strengthen energy cooperation with countries such as Russia and Turkmenistan, in addition to ensuring supply security through strategic relationships with major energy producing countries, proved the MADANI Government’s determination in strengthening the country’s energy security and ensuring long-term sustainability of supply.
He said the drop in diesel prices reflected the effectiveness of foreign policy as well as the efficiency of Prime Minister Datuk Seri Anwar Ibrahim’s administration in managing the economy prudently, with the implementation of various reforms successfully helping to control the cost of living pressures faced by the people.
Yesterday, Anwar announced the reduction in the price of subsidized diesel for Malaysians to RM2.10 per litre starting in July and will be implemented in line with the approach used through the BUDI MADANI RON95 (BUDI95) program, namely with verification via MyKad.
Currently, diesel is still sold at a subsidized retail price of RM2.15 per litre at all petrol stations in Sabah and Sarawak, compared to the unsubsidized retail price of RM4.37 per litre in the Peninsula.
— BERNAMA
