Thursday, July 15, 2010

Government would not burden the people

Prime Minister Datuk Seri Najib Tun Razak said that when implementing the subsidy rationalization plan, the Government would seek not to burden the people.

He said the rationalization move was necessary to reduce Government expenditure and strengthen the financial position of the country.

From Friday, the subsidies for sugar, petrol, liquefied petroleum gas and diesel will be cut as part of the gradual subsidy rationalization programmed.

The price of sugar will go up 25sen to RM1.75 per kg; LPG will go up 10sen to RM1.85 per kg; petrol RON95 will be up 5 sen to RM1.85 per liter and diesel will be up 5sen to RM1.75 per liter.

RON 97 will no longer be subsidized. It will be subjected to a managed float, where the price will be determined by the automatic pricing mechanism, the statement said.

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