Malaysia to Cut Diesel Subsidies, Saving US$ 852 Million Annually

FUEL POLICY - KUALA LUMPUR. Malaysia will begin cutting fuel subsidies to bolster its fiscal position starting with diesel, a move that will save about 4 billion ringgit (US$ 852 million) annually, Prime Minister Anwar Ibrahim said on Tuesday.

Anwar has repeatedly vowed to shift away from blanket subsidies to a targeted system that mainly aids low-income groups.