Malaysia begins diesel subsidy reforms, raising prices by about 50% on June 10.
Malaysia begins diesel subsidy reforms, prices to rise by about 50% on Monday. Starting from midnight on June 10, the government will shift away from costly blanket subsidies to a targeted approach, which aims to save the government about RM4 billion ($853 million) annually. Diesel prices in Peninsular Malaysia will retail at RM3.35 ($0.71) per litre, while prices will remain subsidized in the states of Sabah and Sarawak in East Malaysia. The move is expected to curb smuggling and better allocate resources to benefit Malaysians and develop the nation.
June 09, 2024
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