Malaysia's trade ministry said on Saturday it would submit a proposal to the government on ways to ease the burden of fuel subsidies without resorting to a price hike.
"The proposal does not recommend a price hike ... it shows how the government can economise on the fuel subsidy," Domestic Trade and Consumer Affairs Minister Shafie Apdal was quoted as saying by state-run Bernama news wire.
He said the plan would be put to the cabinet on November 24, but did not give other details.
Malaysia is a net exporter of petroleum but the cost of keeping down the pump prices of petrol, diesel and liquefied natural gas is burning a hole in the government's budget.