Malaysia bracing for backlash over fuel subsidy revamp, says Rafizi

Free Malaysia Today

The economy minister says the government’s focus is on subsidy reforms and optimising spending before considering a consumption tax.  Read More:  https://www.freemalaysiatoday.com/category/nation/2024/10/21/malaysia-bracing-for-backlash-over-fuel-subsidy-revamp-says-rafizi/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #RafiziRamli #RON95 #Subsidy

Transcript

00:00Obviously, there'll be people affected and there'll be people unhappy with it and people

00:09have to adjust their consumption.

00:11So I do expect a lot of noise in the beginning.

00:17The government is bracing for a public backlash as it commits to rolling back raw 95 petrol

00:23subsidies in mid-2025, Bloomberg reported.

00:27Deputy Minister Rafizieh Ramlee said Putrajaya is considering implementing a two-tier price

00:31system so that the wealthiest 15 per cent pay the market rate for raw 95, while the

00:37rest enjoy the subsidised price.

00:39He said the move is expected to save the government RM8 billion a year.

00:43I think we have spent a long time preparing the masses and we've put forth our argument,

00:52we've prepared at least the infrastructure, the database and so on.

00:57So in a way, the public has more time to digest this.

01:03Rafizieh also said inflation is now the government's primary concern as it is in the nature of

01:07Malaysia's economy that prices will increase at any sign of a fuel price hike.

01:12In June, Putrajaya removed subsidies for diesel fuel, but the stakes are higher with raw 95

01:18since it is considered the country's most widely used fuel.

Category

Transcript

Recommended