Malaysian Fuel Price Plan to Hit Ultra Rich, Foreigners: Anwar

Malaysia’s plan to cut subsidies of its most popular gasoline will only affect the wealthiest 5% of the population, according to Prime Minister Anwar Ibrahim.

“There was an earlier suggestion to increase the price of fuel and give subsidies,” Anwar said during the closing address of his political party’s congress on Saturday. “The policymakers and I don’t agree to this. We don’t agree to increasing the price of fuel.”

The country’s fuel price plan is aimed at the richest 5% and the approximately four million foreigners, who are benefiting from about 3 billion ringgit (about $709 million) to 4 ...