RON95 subsidy to stay in Malaysia

KUALA LUMPUR - The price of RON95 petrol will remain at RM1.90(S$0.78) per litre for now as the Government has no intention of reducing or removing the subsidy, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.

He said most Malaysians were not affected by the petrol price increase since only 10% use RON97, which is not subsidised by the Govern­ment.

"Don't worry, we will still maintain (the subsidy) for now," he said after launching the Perfect Livin '12 exhibition yesterday.

The global rise in oil prices pushed the subsidy for RON95 petrol up by 10 sen to RM1.03 per litre in March.

At the event, he said Malaysia was the eighth largest furniture exporter in the world and the second largest in Asia after China.

Last year, exports of furniture products amounted to RM6.46bil and the Government is targeting RM16bil by 2020, said Ismail.

"There is still a lot of potential for growth," he said, adding that Malaysia imported RM1.3bil worth of furniture products last year.