Prime Minister Najib explanation regarding the increase in oil prices

Putrajaya: The price of RON 95 and diesel oil increased 20 cents per liter, effective midnight last night as part of the restructuring of subsidies will be implemented gradually by the government.
Consequently, RON 95 is currently sold at RM2.10 per liter and diesel RM2 per liter.

The move was decided at a meeting of the Fiscal Policy Committee (FPC), chaired by Prime Minister Datuk Seri Najib Razak, today is one of the initiatives to strengthen the financial position of the country in the face of the global economic environment increasingly challenging.



At the meeting, the FPC also decided that the government should consider more carefully the implementation of public sector projects, giving priority to projects with low import content, but has a high multiplier effect.

Implementation projects with high import content will be arranged according to the appropriate schedule is intended to address the country's current account surplus is decreasing.