As AF had previously reported, the subsidy for RON95 would be reviewed before the year end, and we’d also alluded to the possible outcome. Today, Deputy Finance Minister Datuk Ahmad Maslan made it official that as of June 2015, those in a high-income bracket will have to pay ‘market price’ for RON95 fuel. While the mechanisms of how this would be implemented are being finalized by the Finance Ministry and Ministry of Domestic Trade, Cooperatives and Consumerisms, he mentioned that it will likely be via our MyKad or ‘other cards’.
“They (the higher income group) will pay the cost of RON95 according to market prices; for example if the (unsubsidized) price is RM2.58 per litre, then it’s RM2.58 (which is what they will have to pay)” he said during a press conference after a talk on GST in Bangi today. Currently the price of RON95 stands at RM2.30 per litre. He mentioned that ‘those who reside in the low- to middle-income groups will continue to enjoy RON95 at subsidized prices.’
“This system is more fair, as those qualified will receive the subsidy” he added. Datuk Maslan also mentioned that a similar plan would be worked out for Diesel consumers by January 2015, via a ‘fleet card’.
[Source: The Malay Mail Online / AF]