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June 4, 2008

Govt to unveil new subsidy on June 4

Malaysian government will announce on Wednesday a new fuel subsidy, which will take effect immediately to deter possible speculation, Bernama news agency reported.

"We need to look into it (fuel subsidy) again to make sure it will be the best that we can do for our people," the national news agency quoted Prime Minister Abdullah Ahmad Badawi as saying in Kuala Lumpur

Earlier, Malaysia Domestic Trade and Consumer Affiars Minister Shahrir Samad had said the fuel prices would go up in August, and the price rise would be in line with the structuring of the new mechanism for the fuel subsidy scheme enjoyed by the people now.

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