Source NST
GEORGE TOWN: The government will only announce on Sept 30 whether there will be any changes to pump fuel prices following changes to the world crude oil prices.
Second Finance Minister Tan Sri Nor Mohamed Yakcop said although world prices had come down, the government has a formula to follow with regards to fixing retail fuel prices as announced previously.
"If there are any changes, it will be based on a monthly basis," he said.
Nor Mohamed said any new prices would be made known at the end of the month.
He was speaking to reporters after joining the Wisma Anak-Anak Yatim Lelaki for buka puasa in Air Itam here last night.
On Domestic Trade and Consumer Affairs Minister Datuk Shahrir Ahmad Samad's recent statement that the government might reduce fuel prices before Hari Raya, Nor Mohamed said announcing it on Sept 30 would certainly be before Hari Raya.
On Deputy Prime Minister Datuk Seri Najib Razak's appointment as finance minister, Nor Mohamed said he was confident that Najib would perform well in his new portfolio and bring in more foreign investors to the country.
He added that the country's economy would remain stable despite the United States' financial crisis following the collapse of Lehman Brothers and rating downgrades on US' leading insurance group, AIG.
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