Malaysian prime minister Datuk Seri Anwar Ibrahim has directed the ministry of finance to review the mechanism for targeted diesel subsidies using a mechanism similar to that for the Budi Madani RON 95 (Budi95) scheme for petrol, communications minister Datuk Fahmi Fadzil has said, reported The Star.
The ministry of finance has been asked to present its findings at either the upcoming national economic action council (NEAC) meeting or the next Cabinet meeting in the coming week, according to the report.
“The next step is to review the targeted subsidy mechanism, where we will begin examining the best approach to shift how subsidies are delivered, for example, from the current cash transfer model like Budi Individu and Budi Diesel, to a mechanism similar to Budi95,” Fahmi said.
“We expect that when the time comes, this will help Malaysians, especially those driving vehicles like the four-wheel drives (4WD). The method would be simpler, more efficient, and more effective, based on how Budi95 is currently implemented,” the communications minister said.
It is currently not known if the Euro 5 B7 blend of diesel will be included in the upcoming blanket subsidy plan, or if it will continue to be treated as the “premium” option and be left at a higher market price, similar to RON 97 petrol.
The cash assistance for diesel fuel is only for diesel vehicle owners with an annual income of below RM100k, whereas for RON 95 petrol, the Budi95 assistance scheme is applicable to all eligible Malaysians.
The prime minister also ordered a firm stance on fuel leakages, smuggling and misappropriation, Fahmi continued. “Among several measures taken by the government, the first is to deploy security forces, particularly the Royal Malaysia Police, at more than 100 out of 150 petrol stations identified as high-risk, especially those located in border areas, to ensure that activities or actions believed to involve smuggling or misappropriation can be curbed,” he said.
Meanwhile, Fahmi stated that the Cabinet had agreed for Malaysia to raise its biodiesel blend mandate from B10 to B15, starting with the rollout of a B12 biodiesel blend.
“This transition will not involve any additional cost to the government and will use the existing biodiesel blending infrastructure. It has been decided that the biodiesel blending rate will increase from B10 to B15, starting with a B12 blend,” Fahmi said.
The communications minister also reiterated that new prices for fuel products sold in Malaysia are announced every Wednesday at around 6pm or 7pm. “Any information or dissemination detected before that day and time, which is not issued through the official Finance Ministry channels, is likely to be false,” he said.
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Just be thankful that in Malaysia, you are not in long queues to fill up your tank or to refill your cooking gas (LPG) cylinders due to supply shortages, as that is the real DEEP SH*T being experienced by people in other countries..
If diesel price is a concern to you, then you’re clearly not in the target market. It’s really that simple.
Isn’t prime minister and finance minister the same person currently LOL
obviously he has the authority to give orders ; the actual execution of those orders will fall to his subordinates in finacne ministry.
.. that there are people who think that the finance minister is the only person working in the finance ministry..
its the type of cretin who blames responsibility on the federal minister whenever he sees trash litter on the roadside.