KUALA LUMPUR – Subsidy rationalisation for RON95 petrol is expected to be implemented in mid-2025, said Prime Minister Datuk Seri Anwar Ibrahim (Tambun-PH).
In tabling Budget 2025 in the Dewan Rakyat today, he said subsidy for RON95 will remain from now until then, benefitting 85% of Malaysians.
He added that savings garnered from the targeted subsidy initiative will be used for the wellbeing of the rakyat as a whole.
Anwar, who is also finance minister, said foreigners and affluent communities have been unfairly benefiting from petrol subsidies, with the groups taking up 40% or RM8 billion of the subsidies provided by the government.
In July, the Economy Ministry said subsidies and assistance provided to the people, including that of RON95, are still being studied and evaluated.
It noted that the proposed targeted RON95 subsidy will go through adjustments from all aspects to ensure smooth and effective aid distribution.
Putrajaya had lifted blanket subsidies for diesel prices at petrol stations across Peninsular Malaysia, with the move excluding Sabah, Sarawak and Labuan. – October 18, 2024