Malaysia will introduce subsidy cuts on diesel and aims to save approximately 4 billion ringgit ($852.88 million) annually from the move, Prime Minister Anwar Ibrahim announced on Tuesday.

The targeted diesel subsidy reform will only involve consumers in peninsular Malaysia to begin with, Anwar said in a televised address. ($1 = 4.6900 ringgit)

(Reporting by Danial Azhar and Rozanna Latiff; Editing by Martin Petty)