Anwar: No fuel hikes, no borrowing for subsidies as govt absorbs billions

SUNGAI PETANI, June 7 — Prime Minister Datuk Seri Anwar Ibrahim said he did not agree with the move to increase fuel prices when the country was facing a global supply crisis.

On the contrary, Anwar said the government would continue to try to cover the cost of fuel subsidies by incurring large expenses every month to avoid burdening the people.

“How much can we cover in a month? Not in the old allocation, but when the price of oil rose, we paid RM5 billion, RM3 billion a month.

“Then it went up to RM7 billion a month, now it has gone down to RM4 billion,” he said when launching the Madani  Rakan Muda Programme here today.

He said if the government released RM3 billion every month for a period of 10 months, the total would reach RM30 billion.

The Prime Minister said that although the amount was high, the government could cover it through austerity measures in addition to stopping the leakage of national funds.

Anwar also rejected the proposal from certain parties for the government to take out loans or go into debt to enable the government to continue to cover the cost of oil subsidies.

“If they ask for debt, I can go into debt now, but after I leave the government, the children will have to bear it. That is why the solution is not debt, so we do what we can,” he said.

Anwar said the government’s move has enabled the price of oil in the country, especially RON95 petrol which is set at RM1.99 per litre, to be among the lowest in the world.

At the ceremony, the Prime Minister also announced an allocation of RM2 million for the construction of the Padang Awam Multipurpose Hall in Taman Keladi here.

Also present were Youth and Sports Minister Dr Mohammed Taufiq Johari, Dewan Rakyat Speaker Tan Sri Johari Abdul and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. — Bernama