PADANG RENGAS – The possibility of restoring the Budi Madani Programme fuel quota to its original allocation of 300 litres a month depends on how quickly Malaysia’s economic conditions recover despite the recent peace agreement between Iran and the United States (US).
Finance Minister’s political secretary Muhammad Kamil Abdul Munim said the government would first assess the country’s economic outlook before making a final decision on whether to reinstate the previous quota.
He said a return to pre-conflict conditions could pave the way for the government to restore the programme to its original status.
“The government will look at the current position and circumstances before making a conclusive decision.
“If the situation returns to what it was before, I do not think there will be any issue for us to return to the status quo that existed before the war,” he told reporters.
He said this after the Appreciation Ceremony for Government Agencies and the Tun Perak Secondary School community here on Friday.
Kamil welcomed the peace agreement, saying it was expected to help stabilise global oil prices and ease pressure on the world economy.
However, he stressed that the recovery process would not happen overnight as it also involved logistics, transportation and insurance costs that would require time to normalise.
“We expect it may take between three and six months before conditions truly stabilise.
“Although the war has ended, we still need to remain cautious because there is always the possibility that one of the parties could violate the agreement that has been reached,” he said.
At the same time, Kamil said the government would continue efforts to diversify the country’s energy sources to reduce reliance on regions vulnerable to geopolitical conflicts.
He said the move was in line with Putrajaya’s efforts to strengthen strategic ties with various countries, including Russia, to ensure Malaysia’s energy supply remained secure.
Meanwhile, he said the government remained committed to shielding Malaysians from rising living costs throughout the economic recovery period.
Among the measures already introduced, he said, was maintaining the retail price of RON95 fuel at RM1.99 per litre to help contain inflation and cushion the impact of higher global oil prices on consumers.
On June 15, media reports stated that the US and Iran had agreed to a peace deal that immediately and permanently ended military operations across all frontlines, including Lebanon.
The development was announced by Pakistan, which acted as mediator in the conflict, marking the end of a war that had lasted for more than three months in West Asia.