jump to navigation

Malaysia raises fuel price, will double inflation June 4, 2008

Posted by Parti KeADILan Rakyat Bahagian Batu in Antarabangsa, ekonomi, global, Pakatan Rakyat, pasaran, perdagangan.

Malaysia will raise petrol prices by 41 percent on Thursday as part of a fuel subsidy reform that will double the rate of inflation this year and eventually lift Asia’s second-cheapest pump prices to market rates.

The government has said it plans to start using global market rates for fuel in August to prevent subsidies from eating up a third of its budget.
The government would save 4 billion Malaysian ringgit ($1.23 billion) on fuel subsidies and twice as much by raising the price of natural gas, Prime Minister Abdullah Ahmad Badawi said on Wednesday from the country’s administrative capital near Kuala Lumpur. [ from guardian.co.uk here ]


No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: