Petrol stations encouraged to sell fuel below govt-stipulated prices

January 11, 2020

Yup, I can see this happening soon.

Dateline 2019-11-12, The Star:

Petroleum products can be sold below government-stipulated prices if petroleum companies want to compete among each other, says Datuk Seri Saifuddin Nasution Ismail.

The Domestic Trade, Consumer Affairs Minister said all 3,500 petrol stations from the six main industry players are currently selling petroleum products according to the Automatic Pricing Mechanism (APM) which is RM2.08 per litre for RON95 petrol.

If the six petroleum companies practise the principle of competition through innovation and efficiency apart from focusing on the business based on petroleum, they could reduce the retail price of petroleum products,” he said.

“If it is implemented we can see petrol stations selling at different prices. For instance, if Shell is selling at RM2.06, Petron RM2.07, then go to BHP which is retailing at RM2.04,” he told reporters after attending a Symposium on Fair Competition and Cost of Living here Tuesday (Nov 12).


Domestic Trade Minister assures security of petrol subsidy data

January 3, 2020

Ah, where black hats and o&g meet.

Dateline 2019-10-20, Malay Mail:

Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail gives his assurance that the Petrol Subsidy Programme (PSP) banking leakage problem has been solved and his ministry has tightened the security of its system for data protection.

He also said that the corrective measures had been taken on its official portal for fuel subsidy recipients within hours after the news reports of a leak was reported on Thursday.


Minister says RON95 subsidy nearly RM100m a week at current oil price

December 24, 2019

Why not subsidise, enforce and improve public transport? I think RM100m a week can go a long way to enforce rules, plus the sweet, sweet money from fines, penalties, product placement, and influencer endorsement.

Dateline 2019-10-15, Malay Mail:

The price ceiling for RON95 petrol required a subsidy of almost RM100 million per week at the prevailing oil price, said Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

“Concerning the weekly cost to maintain the price of RON95 petrol at RM2.08 a litre, the Finance Ministry estimates an amount of RM99.76 million is needed to maintain the retail price of RON95,” he said during Question Time at the Dewan Rakyat this morning.

 


A more progressive solution than fuel subsidy

December 19, 2019

Dateline 2019-10-14, FMT:

Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail has finally announced the targeted Petroleum Subsidy Programme (PSP), mooted almost a year ago.

In this scheme, RON95 petrol will be floated and Cost of Living Aid (BSH) recipients will receive between RM48 (for motorcycle owners) and RM120 (for car owners) every four months.

The move will cost the government approximately RM65.4 million a month or RM784 million annually.


No fuel subsidies for East Malaysia as consumption is lower than in peninsula: Saifuddin

December 12, 2019

Don’t know about you, but that is a lousy excuse no matter which side of the pagar you are on.

Dateline 2019-10-08, The Sun:

Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail (pix) says vehicle owners in East Malaysia will not receive petrol subsidies as consumption in Sabah and Sarawak is relatively lower than in the peninsula.

However, he said the price of RON95 petrol in the two states will be capped at RM2.08 per litre.

He also reiterated that the subsidy programme is meant to benefit those in the lower income group.


Minister says updating data on petrol subsidy for eligible Malaysians

September 16, 2019

Dateline 2019-08-09, Malay Mail:

The Ministry of Domestic Trade and Consumer Affairs is updating data on recipients of the petrol subsidy programme from the lower-income group (B40) to ensure that only those who are eligible receive such assistance.

The Minister, Datuk Seri Saifuddin Nasution Ismail, said a good data is when no recipients who are eligible are left out.

“We need to be clear who the target recipients are and the criteria required to qualify for the aid. All these must be developed and the target recipients must be identified,” he told reporters at a credential-presentation ceremony for Sabah and Labuan Parliamentary Consumerism Coordinators here, yesterday.

..


Minister: Govt needs time to finalise targeted petrol subsidy

September 1, 2019

Dateline 2019-07-13, Malay Mail:

The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) has urged the public to give the government time to finalise the implementation mechanism of the targeted petrol subsidy for the lower income group or B40.

Its minister Datuk Seri Saifuddin Nasution Ismail said although the implementation date did not meet the set target of the second quarter of this year as announced in the 2019 Budget, he was optimistic that it could be implemented this year.


Ministry to hold meeting on targeted petrol subsidy

August 29, 2019

Dateline 2019-07-13, The Sun Daily:

The Ministry of Domestic Trade and Consumer Affairs will hold meetings with stakeholders and media agencies to convey information on the implementation of targeted petrol subsidy before it is introduced later this year.

Minister Datuk Seri Saifuddin Nasution Ismail (pix) said among the stakeholders were consumer associations, petrol station operators, oil companies and other agencies including Bank Negara Malaysia, Department of Statistics and Customs Department.

“The stakeholder engagement has been made and the session will be continued from time to time. We are very committed to delivering information to them.


Govt confident of rolling out targeted petrol subsidy this year, says minister

August 14, 2019

Dateline 2019-06-28, Malay Mail:

The government is optimistic that the targeted petrol subsidy for the low-income or B40 group can be implemented this year.

Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said his ministry and the Finance Ministry have prepared a joint memo on the review of the implementation of the system to be tabled at the Cabinet meeting in the near future.

“We feel that we have found a reasonable implementation method. Even if it is not perfect, the process of finding perfection in terms of implementation will be achieved as we go along,” he told reporters after attending his ministry’s Penang branch Aidilfitri Open House House here today.


Fuel subsidy mechanism in final stages

July 3, 2019

Dateline 2019-05-23, NST:

The Domestic Trade and Consumer Affairs Ministry has almost completed its final preparations to introduce the fuel subsidy mechanism for the low-income, or B40, group.

Its minister Datuk Seri Saifuddin Nasution Ismail said the ministry was looking for an appropriate window for its implementation before presenting it to the Cabinet.

“All our preparations and research on the mechanism are almost done. We are now looking at the right time for the programme implementation before bringing it to the Cabinet to share the mechanics and the process,” he said.