KUALA LUMPUR, Oct 9 (Bernama) -- The government's approach of maintaining fuel subsidies for all segments of society aims to protect the public, including the middle-income group, from global oil price shocks that could drive up the cost of living, Deputy Finance Minister Liew Chin Tong said.
He said the approach seeks to strike a balance between controlling inflation and addressing economic challenges amid volatility in the global oil market.
“When we implemented BUDI95 in September 2025, oil prices were relatively low and many people were urging the government to float petrol prices and provide cash handouts.
“Now, imagine if the government had taken the advice to float petrol prices according to market rates at that time. This would mean that many Malaysians would not have been shielded, especially during March and April, and even now,” he told reporters after the tabling of Budget 2027 in the Dewan Rakyat today.
He said the approach strikes a balance to ensure that the majority of Malaysians, including the middle-income group, remain protected for as long as possible.
-- BERNAMA