KUALA LUMPUR, March 26 (Xinhua) -- The Malaysian government has announced a series of fuel management measures to ensure sufficient supply, manage subsidy spending and curb smuggling activities amid rising global oil prices and supply uncertainties.
Malaysian Prime Minister Anwar Ibrahim said on Thursday that the measures focus on three key areas, including adjustments to the subsidized petrol program, fuel purchase limits and stricter enforcement against leakages and smuggling.
Under the first measure, the government will revise the eligibility cap for its BUDI95 subsidized petrol program from 300 liters to 200 liters per month, effective on April 1. However, the subsidized price will remain at 1.99 ringgit (about 0.49 U.S. dollar) per liter.
The second measure involves temporary limits on fuel purchases per transaction to ensure fair distribution and prevent hoarding and smuggling, while the third measure is stricter enforcement against fuel subsidy leakages and smuggling. Authorities have been instructed to intensify monitoring and enforcement, as subsidy leakages were estimated to reach hundreds of millions of ringgit monthly.
Anwar said the measures were necessary to ensure fuel supply remains sufficient and subsidies benefit targeted groups while preventing abuse of the subsidy system. ■
