According to Finance Minister II Datuk Seri Amir Hamzah Azizan, the Malaysian government will announce the mechanism for rationalising the RON95 fuel subsidy using MyKad in the second half of the year. He said that the mechanism is still being refined and that they are still working on it.

“We will use a two-tier pricing system, with both subsidised and non-subsidised prices. More than 85% of the people will benefit from the subsidised price”, Amir said, as quoted by NST.

Amir also explained that 700,000 recipients of the Sumbangan Asas Rahmah (Sara) assistance programme are receiving RM100 or RM50 per month, where they can purchase goods at retail stores or supermarkets using MyKad. The number of recipients are expected to increase to 5.4 million.

“There are currently over 3,500 retail stores and supermarkets that support this MyKad system for Sara’s assistance. So, when we compare, if we can use MyKad for 5.4 million recipients with 3,500 stores, it’s not that different and we could also use the same system for RON 95”, elaborated Amir.

(Source: NST)

• TAGS:
• MyKad
• Petrol Price
• Petrol Price Malaysia
• RON95
• Subsidy