Sep 30, 2000, 12:01 AM
News Code: 9057776
0 Persons
year this 2b dlrs Malaysia cost will low prices oil Keeping to have will government Malaysian The -- IRNA 30, Sept Lumpur, Kuala to year this subsidies in (million 5.814 dlrs) billion 095.RM3 pay levels, current their at products petroleum its of prices the maintain Council Action Economic National the think-tank, economic Malaysia's .Friday website its on posted study a in said ,(NEAC) 598.RM4 forgo to have also will government the this, of top On .products petroleum on revenue tax in (billion 21.1 dlrs) billion since subsidized been have products petroleum addition, in And, the to cost practice's the details which study the to according 1996, .years five last the over government with tandem in climbing steadily been have subsidies The 1996 in (million 37.47 dlrs) million RM180 from prices, oil increasing 135 dlrs) million RM515 1997, in (million 60 dlrs) million RM228 to .year last (million 5.301 dlrs) billion 146.RM1 and 1998, in (million absorbing been has government the reports, earlier to According the to purchases fuel subsidizing directly by prices oil in increases 10 to eight past the over (billion 32.1 dlrs) billion RM5 of tune .years alone, year this of quarter last the for that estimated is It ,(million 8.336 dlrs) billion 28.RM1 to amount would bill subsidy the domestic and level 36 dlrs the at remain prices oil world if and have would government the adjusted, not are prices product petroleum .year next (billion 42.1 dlrs) billion 4.RM5 out fork to per cents 29.0 at remained has petrol of price retail The to cents/liter 29.8 by jumped having cost product the despite liter .said NEAC the years, five past the over currently cebts 93.23 billion 146.RM1 the double than more are subsidies year's This when 1996 since highest the and year last paid (million 6.301 dlrs) prices oil increasing of because subsidies paying began government the .worldwide 164.RM5 totalled have subsidies the year, this to 1996 From .(billion 356.1 dlrs) billion Automatic the by fixed are products petroleum of prices retail As tax of amount the 1993, April in implemented Mechanism Pricing .up goes cost production as down goes government the by collected a pays government the bottom, rock hits levy tax the When .prices retail the maintain to subsidy while 1994 in fixed was petrol unleaded of price retail The .1990 in determined were LPG and diesel petrol, leaded for prices (40.RM144) 38 dlrs nearly to soared prices oil world week, Last a 32 dlrs below to falling before years, 10 in highest the barrel, a .week this barrel retail in rise a that indicated recently had government The not would it that assurance an gave but inevitable, be might prices .people the burden BN/LS/RR End