Malaysia weighs targeted fuel subsidy cuts for higher-income groups as costs surge

Business

The country is now looking at spending up to RM6 billion monthly to keep subsidies in place and avoid passing costs directly to households. KUALA LUMPUR: Malaysia may begin scaling back fuel subsidies for higher-income groups as early as next month, said its Economy Minister Akmal Nasrullah Mohd Nasir, as it grapples with rising costs driven by volatile global oil prices. The review comes as the government’s monthly subsidy bill surged to about RM6 billion (US$1.5 billion) as of April,