Dateline 2011-03-21:
The Government of Malaysia has no intention to review the fuel subsidy as it can still withstand the increase in oil prices, which have shot up since the unrest in the Middle East began.
Second Finance Minister Ahmad Husni Hanadzlah said the country would still be able to cope if oil prices went up to US$130 per barrel.
“However, the country’s economy will suffer if the price reaches US$150 per barrel.
“Our target is to achieve an economic growth of 5% to 6% this year and this will be affected if oil prices reach this stage.
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Wata - Malaysian Oil and Gas Engineer 