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Brunei
Thursday, August 11, 2022
24.4 C
Brunei
Thursday, August 11, 2022
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    Over BND100M subsidy in oil prices: Minister

    Izah Azahari

    The government of Brunei Darussalam has subsidised over BND100 million in oil prices even before the COVID-19 pandemic hit, and has been on the increasing trend with the current price hike now standing at USD117 per barrel.

    This was said by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah at the press conference yesterday.

    However, the minister said the exact total subsidies are yet to be finalised as calculations will only be carried out every quarter of the year.

    He added that rice is another product subsidised by the government.

    “It depends on the season of the exporting country. If it is facing drought and the likes, by itself the price will increase,” said the minister, adding that an estimation of the total subsidy cannot be done for rice as it is subject to the current prices.

    Dato Seri Setia Dr Awang Haji Mohd Amin Liew also touched on other utility items being subsidised including electricity and water.

    With worldwide inflation, he advised the public to control consumption and avoid wasting subsidised items.

    Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah. PHOTO: JAMES KON
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