BANDAR SEI BEGAWAN, May 28 (Borneo Bulletin/ANN): The government of Brunei has subsidised over BND100 million (RM320 Million) in oil prices even before the Covid-19 pandemic hit, and has been on the increasing trend with the current price hike now standing at US$117 per barrel.
This was said by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Mohd Amin Liew Abdullaj at the press conference in the capital.
However, the minister said the exact total subsidies are yet to be finalised as calculations will only be carried out every quarter of the year.
He added that rice is another product subsidised by the government.
“It depends on the season of the exporting country. If it is facing drought and the likes, by itself the price will increase,” said the minister, adding that an estimation of the total subsidy cannot be done for rice as it is subject to the current prices.
Dato Seri Setia Dr Awang Haji Mohd Amin Liew also touched on other utility items being subsidised including electricity and water.
With worldwide inflation, he advised the public to control consumption and avoid wasting subsidised items. - Borneo Bulletin/ANN