The Government Is In The Final Stages Of Targeted RON95 Petrol Subsidy Implementation
Author Avatar

 

The Government Is In The Final Stages Of Targeted RON95 Petrol Subsidy Implementation(Image: Utusan)

The Domestic Trade and Consumer Affairs Ministry is in the final stages of implementing the new targeted RON95 fuel subsidy for the B40.

According to Domestic Trade and Consumer Affairs Minister, Datuk Seri Saifuddin Nasution Ismail, the ministry is close to finalising the mechanism and is waiting for the “right moment” to implement it.

“So we are looking to pick the right moment that would bring relief not just regarding the financial impact on the government but also on other stakeholders, such as petrol companies, the petrol dealers and, most importantly, the people,” he said.

(Image: Kosmo)

The Minister of Finance, Lim Guan Eng, had previously announced this fuel subsidy in Budget 2019. Approximately RM2 billion is allocated for the initiative that is expected to benefit more than four million car owners and 2.6 million motorcycle owners in the low-income group.

Cars with engines below 1,500cc and motorcycles with engines below 125cc are eligible for the fuel subsidy. This group could purchase the fuel at only RM0.30 per litre. Eligible car owners can refuel for up to 100 litres per month while motorcycle owners get to buy maximum 40 litres of fuel per month.

RON95 fuel is currently capped at RM2.08 per litre while the government works on the mechanism of the targeted fuel subsidy.

(Source: The Star, NST)

 

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 15th September 2021
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Shopee Introduces SPayLater, Lets Users Buy Items Now And Pay Later
Alex Cheong Pui Yin
- 18th January 2021
Shopee has introduced a new payment feature that lets its Malaysian users purchase items and pay for them […]
Post Image
Best High Interest Savings Accounts In Malaysia (July 2021)
Pang Tun Yau
- 28th July 2021
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image