The news source reported that Petronas will still lose an estimated MYR164 billion in subsidies by 2022, substantially lower than the MYR252 billion it would have lost on the older regulated prices.
Subsidies for the Malaysian power sector are expected to be gradually decreased every year till 2022, while the non-power sector will be subject to cuts up to 2017 or 2018, according to Reuters, which quoted the Malaysian state-run media outlet Bernama.
Gas prices in peninsular Malaysia will increase to MYR14.31 per million Btu from the current MYR6.40, effective July 1, 2008, according to the news source.
