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PUBLISHED: Mar 13, 2017 6:53am

No more govt subsidies if oil price falls below US$40 per barrel?

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Source: Bernama Source:
Bernama

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ARAU, 13 March 2017:

The government should withdraw all subsidies when crude oil prices fall below US$40 per barrel, said UMNO information chief Tan Sri Annuar Musa.

He said the fall in oil prices has a significant impact on the country’s revenue which is used to finance part of the subsidies for welfare of the people.

“The ability of the government to maintain the subsidies is due to prudent management on the nation’s finances despite having to withdraw some of the subsidies in stages.”

Annuar said this when replying to a question posed by a Perlis Universiti Teknologi Mara students as part of his tour programme to brief the people on current issues.

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