The price of RON95 petrol in Malaysia is set to remain until June 2015, when a new fuel subsidy mechanism will be introduced. Deputy Finance Minister, Datuk Ahmad Maslan has mentioned that the petrol subsidy rationalisation exercise was unlikely for now.
He also hinted that the usage of MyKad will be required for Malaysians to enjoy the petrol subsidy from the Government. The system is set to be implemented for subsidised diesels in January 2015, followed by the RON95 petrol for the masses six months later.
Ahmad Maslan revealed that Malaysians with the monthly income of RM4,000 will be eligible for fuel subsidy as enjoyed by all Malaysians presently (RM0.20 per-litre based on the last round of rationalization). However, the Government has not decided for those earn a monthly income of RM4,000 to RM12,000.
With that, the fuel subsidy system in Malaysia will be targeted specifically for the needy ones just like what was announced in Budget 2015. What remains to be seen is how exactly this system will be implemented, as Malaysians may need to swipe their MyKad at petrol pumps to be eligible for the subsidized petrol.
[Source: The Malay Mail]
