2020 Budget: RM2.2 billion for targeted fuel subsidy scheme

Dateline 2019-10-11, NST:

The government will allocate RM2.2 billion for the proposed Fuel Subsidy Programme (PSP), which is set to benefit more than eight million motorists nationwide.

Motorists in Sabah and Sarawak, meanwhile, will continue to enjoy a fuel price ceiling of RM2.08 per litre for RON95 and RM2.18 per litre for diesel, said Finance Minister Lim Guan Eng in his 2020 Budget speech today.

“Should the Sabah or Sarawak governments wish to participate in the PSP, the federal government is ready to accept the request.

“Individuals who own no more than two cars and two motorcycles are eligible to receive PSP for (only) one vehicle. All luxury vehicles will not qualify to receive the targeted subsidies,” he said.

He said the PSP will be launched in Peninsular Malaysia in January next year, with two eligible recipient categories.

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