Khairuddin: Cooking oil subsidy mechanism discussions in final stages

KUALA LUMPUR (Bernama): The government is in the final stages of discussions to determine the best mechanism for two-kilogramme (kg) or five kg bottled cooking oil, Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.

He said the matter will be tabled at the weekly Cabinet meeting on Wednesday (June 23) before it can be decided and announced to the public as early as next week.

He said discussions between three relevant ministries, the Plantation Industries and Commodities Ministry, the Domestic Trade and Consumer Affairs Ministry, and the Finance Ministry have been ongoing, which included crude palm oil suppliers, wholesalers and other stakeholders.

"At the Plantation Industries and Commodities ​​​​​​Ministry level, which safeguards the interests of crude palm oil suppliers, we have discussed and suggested the best methods to ensure the public can enjoy low prices for 2 kg and 5 kg bottle cooking oil.

"It’s just that we can’t announce it today as the matter has not been decided at Cabinet level, ” he said on TV1’s Bicara Politikonomi programme entitled ‘Palm Oil and Cooking Oil Prices: Opportunity or Burden’, on Tuesday (June 22) night.

He said his Ministry also suggested to the government a long-term mechanism or targeted cooking oil subsidy like the one being implemented for petrol currently.

"The targeted subsidy mechanism suggestion is still being developed and it is aimed at addressing weaknesses in the existing cooking oil supply system, ” he added. - Bernama