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Subsidy reform in Malaysia. Subsidy reform in Malaysia was initiated in July 2010 by Prime Minister Najib Razak via a reduction in subsidies for fuel and sugar. Further cuts in subsidies for these and other products are planned over a three- to five-year period to strengthen government finances and improve economic efficiency.
Diesel price in Malaysia jumped by more than 50% on Monday as part of a revamp of decades-old fuel subsidies to tighten government spending and save billions of ringgits annually. The ...
Gasoline and diesel usage and pricing. The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation or subsidy, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade ...
On 16 July 2010 subsidies for petrol, diesel and LPG were cut as part of Malaysia's general programme of reducing and rationalising subsidies per the 10th Malaysia Plan and the New Economic Model. The government believes it will save RM750 million by the end of 2010 through these measures with little negative impact on most citizens.
He said Malaysia's annual subsidies for fuel, food and other items were among the highest in the world but its taxes among the lowest. This year, for instance, he said government subsidies and ...
The average household income of Malaysia increased by 18% to RM5,900 a month, compared to RM5,000 in 2012. According to a HSBC report in 2012, Malaysia will become the world's 21st largest economy by 2050, with a GDP of $1.2 trillion (Year 2000 dollars) and a GDP per capita of $29,247 (Year 2000 dollars).
The energy policy of Malaysia is determined by the Malaysian Government, which address issues of energy production, distribution, and consumption. The Department of Electricity and Gas Supply acts as the regulator while other players in the energy sector include energy supply and service companies, research and development institutions and ...
June 10 – The government rationalises diesel subsidies by lifting fuel subsidies in Peninsular Malaysia, resulting in a 56% price increase in diesel, from RM 2.15 to RM 3.35 per litre and subsidising only targeted groups RM 200 monthly.