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Kuala Lumpur: The government has no intention of lowering the current ceiling price of RON95 petrol and subsidised diesel, the finance ministry said.

In a written reply, it said this is to prevent the government from continuing to bear higher subsidies.

“To continue protecting consumers from the effects of crude oil increase in the global market, the government has still been maintaining the ceiling price of RON95 petrol and subsidised diesel until now even though the real market price has exceeded the set limit,” the ministry said.

The ministry was responding to a question from Nik Zawawi Salleh (PAS-Pasir Puteh) about the government’s plans related to the restructuring of petrol subsidies.

The ministry said the government is exploring measures to improve the provision of subsidies in a more targeted manner to reduce leakages, while continuing to look after the welfare and well-being of the people.

It added that savings from cutting subsidies could also be used for programmes and projects that added more value to the national economy.