All subsidies should be cancelled once crude oil prices drop to below US$40 per barrel, said Umno information chief Annuar Musa.
He said this is because a drop in crude oil prices will have an adverse impact on government revenue, Bernama reported.
“The government’s ability to maintain subsidies depends on its ability to manage the country’s finances well, and that could also mean rolling back subsidies in stages,” he said.
Brent crude oil prices prices dropped to US$51.25 per barrel yesterday, the lowest since November 30.
Annuar was responding to a Universiti Teknologi Mara student in Perlis during a question and answer session.
Annuar said this during Umno’s nationwide information roadshow, the newswire reported.
Meanwhile, Annuar also explained that claims that Malaysia is among the 10th most corrupt ountries in the country is only a perception, and that the same accusation was made when Dr Mahathir Mohamad was prime minister.
“Our challenge is how to clamp down on corruption.
“Enforcement is not enough because we need everyone’s cooperation to stamp out this culture of corruption,” he said.
Source : @ Malaysiakini