The original proposal was expected to save about RM8 billion annually, he said then, stressing that Malaysia currently spends about RM20 billion a year on fuel subsidies enjoyed by both foreigners and super-rich Malaysians. Amir Hamzah said on Tuesday that the new move would save the government between RM2.5 billion to RM4 billion a year, if oil prices are at RM75 per barrel. So at this juncture, we are happy to actually bank in potential savings of about RM4 billion,” he said. “Is RM2.5 billion small money? “We either (use it to) reduce the amount of deficit, or we invest back in things that are necessary for the people.