The government aims to ensure that only the affluent pay market prices for petrol, with 85% of the population continuing to benefit from existing subsidies
Malaysia’s policy of subsidising fuel has resulted in losses of RM4.5 million or 3 million litres of diesel that is smuggled abroad each day, according to Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.
Consumer associations have backed the government's proposed targeted RON95 petrol subsidy programme, which is due to be implemented in the second half of 2024.
Responding to Scoop, industry giant said it aims to become ‘operationally focused, commercially agile and cost-efficient’, but did not clarify if it is linked to Petros deal