New fuel subsidy to be announced tomorrow
The Government will announce a new fuel subsidy tomorrow, Prime Minister Datuk Seri Abdullah Ahmad Badawi said. The decision on the fuel subsidy will take effect immediately to avoid any speculation, he told reporters after chairing the National Small and Medium Enterprise Development Council in Kuala Lumpur yesterday. “We need to look into it (fuel subsidy) again to make sure it will be the best that we can do for our people,” Abdullah said. He was commenting on Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad’s statement that fuel prices will go up this August. “He said might be. Anything to do with (fuel) subsidy, the final decision will be this Wednesday,” Abdullah said. According to Shahrir, the increase in fuel prices is in line with the structuring of the new mechanism for the fuel subsidy scheme enjoyed by the people now, He was reported saying that there were already several proposals and the mechanism had been submitted to the Finance Ministry and it would be decided in the best manner. — Bernama.