BALIK PULAU: Malaysia’s petrol price will remain among the lowest globally when the targeted subsidy programme begins on September 30 according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
He assured consumers that the subsidised RON95 price of RM1.99 per litre under the BUDI MADANI RON95 programme will continue regardless of global crude oil price fluctuations.
“The subsidised price of RM1.99 per litre is among the cheapest in the world,“ he told reporters after attending the Rumah Mesra Kampung Angkat MADANI programme at Pulau Betong.
Amir Hamzah stated that even if Malaysia eventually adjusts to market rates, the country will still maintain one of the lowest petrol prices regionally and globally.
The targeted subsidy initiative is expected to help the government save between RM2.5 billion and RM4 billion annually depending on global crude oil prices.
These savings will be channelled back to the people through direct assistance programmes including Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah aid.
Regarding the 300-litre monthly eligibility ceiling, the minister explained this amount represents normal vehicle usage based on ministry research.
The government will allow appeals for higher eligibility from workers such as p-hailing drivers who rely heavily on their vehicles for income.
Amir Hamzah confirmed that MyKad will serve as the verification mechanism for subsidy eligibility leveraging existing systems without creating new platforms.
Prime Minister Datuk Seri Anwar Ibrahim previously announced the RON95 price reduction from RM2.05 to RM1.99 per litre starting September 30 under the BUDI95 programme.
All citizens with valid driving licences are eligible for the subsidy with over 16 million Malaysians expected to benefit according to JPJ and JPN data. – Bernama