September 8, 2019
Dateline 2019-07-19, Paultan.org:
The government is expected to finally announce the targeted fuel subsidy scheme soon, and it looks like the original plan to offer subsidies based on vehicle engine capacity has been dropped, the Malay Mailreports.
During Budget 2019, finance minister Lim Guan Eng said that the government planned to subsidise owners of vehicles and motorcycles with engine capacities below 1,500cc and 125cc respectively a subsidy rate of 30 sen per litre, for RON 95 petrol. This would be capped at 100 litres per owner of a vehicle and 40 litres for those with motorcycles.
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.
December 20, 2014
Dateline 2014-10-14, Malaysia Reserve:
The government expects to cut down substantially its fuel subsidy bill with the proposed fuel price mechanism that could differentiate between eligible and non-eligible buyers at the pump.
Finance Ministry Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah said the fuel subsidy mechanism that will be introduced before the end of the year will weed out those not eligible for subsidy.
Under the present blanket fuel subsidy, non-eligible motorists including foreign vehicles are also enjoying the subsidy.
Mohd Irwan said the recent reduction of 20 sen per litre in fuel subsidy will save the government about RM1 billion per month from October, which translates to RM4 billion in total for 2014.
“We do not expect to collect as much savings from that unless we introduce this new and more targeted fuel subsidy mechanism soon,” he said in Kuala Lumpur yesterday.
May 18, 2013
File this under ‘obvious’
From Platts, 2013-05-06:
Malaysians could witness their first fuel subsidy cut in 2 1/2 years, following the victory of incumbent Prime Minister Najib Razak in the Sunday elections, HSBC said in a note Monday.
According to the bank, Najib, who has made fiscal reform his priority, could look at cutting subsidies as early as this year.
Malaysia subsidizes 95 RON gasoline and diesel, the prices of which were last raised by MR0.05 ($0.02)/liter to MR1.90/liter and MR1.80/liter, respectively, on December 1, 2010.
Subsidies on 97 RON gasoline were removed in July 2010, and the fuel is subject to a managed float, where the price is determined by an automatic pricing mechanism that tracks international oil price movements.
October 1, 2012
Y’know, a while back they actually included how much tax was waived. I think the amount is the same as or more than the subside.
Maybe the powers that be decided that showing that information is an oops? Get the relevant act here.
July 21, 2012
Yes we can, right up to the next election at least.
The country cannot rely on fuel subsidy-driven consumption to prop up the economy in the long run, said Prime Minister Datuk Seri Najib Tun Razak.
He acknowledged that Malaysia has one of the lowest pump prices in Southeast Asia – second only to Brunei Darussalam – but pointed out that the country needed to reposition its oil-based revenue towards economic development.
“If we use all our riches to provide fuel subsidies, that will increase consumption. If we increase consumption, we do not build productive assets for our country’s future and, one day, oil will be depleted, there will be less oil, the amount of oil production will go down and at that time we will face a grave situation.