The most significant news of the recent tabling of Budget 2025 has to be the impending end to blanket subsidies for RON 95 petrol, which will be replaced by a targeted version that will come into place from mid-2025. After subsidy rationalisation for diesel was implemented in June, it was always a matter of when and not if RON 95 petrol would follow. Now we know when.
Prime minister Datuk Seri Anwar Ibrahim said that the T15 (a new term that means the top 15% earners) and foreigners will soon have to pay market price for petrol, while 85% of the rakyat will continue to enjoy subsidised RON 95. Anwar, who is also finance minister, used maha kaya to describe the T15 in the budget.
As there was no elaboration on who exactly is T15, many searched and found stats that pointed to RM12,000 or RM13,000 income as the point where a Malaysian household is classified as T15. For a working couple, that’s RM6,000 salary each – many were shocked that they are the maha kaya and will have to pay market price for petrol.
Now, Anwar has walked back on his T15 definition, saying that neither the income cut off point or the percentage itself is final. The no-subsidy group can even be T10 or T5, he said at the Perak PKR state convention in Ipoh yesterday, reported by Astro Awani.
“Who said RM12,000? It’s not been decided. We want to see if the T15 can afford to pay. If not, it can be T10 or we can raise the T15’s income level from the current RM12,000,” Anwar said.
“Not yet final – by right, if the opposition doesn’t agree that RM12,000 is T15, they should suggest raising it to RM15,000 or RM18,000, but instead they defend the T15. T15, some of them have RM1 million monthly income, some are at RM100,000 a month, how can we defend,” he added, bringing the opposition into the picture. Anwar also said that what’s important is over 85% of the rakyat will not be affected by the RON 95 targeted subsidy move.
Were people’s anger ‘incited’ by PN politicians, though? There’s also room for speculation when the government announces a new income category and calls the group maha kaya, but doesn’t share details on who exactly is the T15. Now that PMX has said that nothing is finalised, we’ll see what’s the income cut off point and if you are ‘super rich’.
Who’s excluded from petrol subsidy is one thing, the implementation is another.
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AI-generated Summary ✨
Comments highlight concerns about fairness and clarity in the T15 subsidy policy, questioning income group classifications and the criteria for subsidy cuts. Many argue that high-income groups still benefit from subsidies or can bypass restrictions, leading to frustration. Several suggest targeting subsidies more accurately, often proposing applying them to East Malaysia or the vehicle type rather than income tiers. Overall, there’s skepticism about the policy's execution, its impact on different income groups, and the transparency of the government's plans.