Cooking oil price for 1kg polybag packages to remain at subsidised rate

PUTRAJAYA: Cooking oil price for 1kg polybag packages will be maintained at RM2.50 as the government pledged to continue subsidising them.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin said this is in line with the government's cooking oil rationalisation plan, and amid public confusion over the oil subsidies.

He said only the prices of other packages that are being subsidised by the government presently would be determined by market value effective Nov 1, including the 5kg bottled packages.

"I had a discussion with Prime Minister Datuk Seri Najib Abdul Razak recently, and we agree that what's most important is the low income group.

"We understand that these are the people who usually purchase the 1kg packs. Which is why I'm announcing today that price for the 1kg polybags will remain at RM2.50," he told a press conference, here, today.