Dr M: Govt able to absorb cost of capping RON95 petrol price

KUALA LUMPUR: The government is able to absorb the cost of capping the price of RON95 petrol at RM2.08 per litre said Tun Dr Mahathir Mohamad (pic).

The Prime Minister said that the decision was made to help ease the burden of the people.

"It was decided to maintain (the cap) because we can absorb the extra cost," he said at Istana Budaya on Wednesday (Feb 27).

Dr Mahathir said however there was no need to recalibrate the budget at this point in time.

"It depends. We will recalibrate it if it drops to a certain point but it has not reached there yet," he said.

Finance Minister Lim Guan Eng announced earlier Wednesday that the price of RON95 petrol would be capped at RM2.08 per litre even if there were to be an increase in global oil prices.

Mahathir was speaking to the press while attending the staging of OlaBola The Musical, which he said was one of the best plays he had seen.

"I really liked the special effects like the helicopter in the play.

"I think we have made a big progress in putting on stage performances," he said.