Wednesday, January 29

Targeted fuel subsidy under fine tuning process – Saifuddin

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Datuk Seri Saifuddin Nasution Ismail – Bernama file photo

GEORGE TOWN: The government’s targeted fuel subsidy meant  for the B40 (lower income) group is in the fine tuning process , said Domestic Trade and Consumer Affairs Minister  Datuk Seri Saifuddin Nasution Ismail.

“Although in terms of the timeline it should have been announced in the first quarter of this year… it is  now in the final phase,” he  told reporters after attending an Aidiladha event at  Surau Bandar Bayan Baru here today.

He explained that  the phase involved much cross-checking of data to ensure only those truly eligible received the subsidy and that references were being made to the Bantuan Sara Hidup initiative, Road Transport Department, National Registration Department, Inland Revenue Board and Bank Negara.

Once completed, he said the paper would be tabled to the Cabinet and if approved, an announcement would be made for implementation throughout the country.

In Budget 2019, it was stated that owners of cars 1,500cc and below or motorcycles 125cc and below will be eligible for RON 95 petrol subsidy, limited to 100 litres/month for the former and 40 litres/month for the latter. – Bernama