[KUALA LUMPUR] Malaysia will reform subsidies on the country’s most popular fuel by the end of September, a move that will see foreigners paying higher pump prices as the government looks to narrow its budget deficit.
Foreigners will pay RM2.60 (S$0.79) per litre for the cheapest petrol, known as RON95, effective Sep 30, Prime Minister Anwar Ibrahim said in a speech on Monday (Sep 22)
Meanwhile, the country will continue to help Malaysians pay for the fuel, reducing it to RM1.99 per litre, from RM2.05 for locals.
The police and military will be eligible for lower fuel prices from Sep 27, and recipients of a government cash handout the following day, Anwar said. Other Malaysians will benefit from the cut in prices from Sep 30.
“Some may criticise, why will the ultra-wealthy also get it? This is recognition for the people of Malaysia,” Anwar said in an address to civil servants. BLOOMBERG
