Fuel subsidies of RM28bil likely this year

This is not the first time that Malaysia had to implement a targeted subsidy programme.In 2008, the government introduced a petrol cash assistance programme by paying an annual amount of between RM150 and RM625 to motorists.

PETALING JAYA: The government may fork out RM28bil for fuel subsidies this year if crude oil price continues to stay above US$100 (RM420) per barrel.

While the government would gain higher oil revenue, KAF Research said the fuel subsidies bill in 2022 could be five times higher than the RM5.3bil allocated under Budget 2022.