The targeted RON95 subsidy scheme has generated annual savings of between RM2.5 billion and RM4 billion, enabling the government to channel more funds into cash aid, welfare assistance and cost-of-living initiatives,Finance Minister II Datuk Seri Amir Hamzah Azizan said
Finance Minister II Datuk Seri Amir Hamzah Azizan says Malaysia’s targeted RON95 subsidy has already benefitted over 14 million citizens, cut fiscal costs by up to RM4 billion, and sparked debate over OECD calls to phase out fuel aid
MOF will also allow registered owners of diesel vehicles to transfer diesel subsidy eligibility to immediate family members who are the actual users of the vehicles, subject to conditions and verification requirements to be determined
The government expects its nationwide MyKad-based targeted diesel subsidy programme under Budi Madani to curb fuel leakage by up to one billion litres annually, reducing subsidy losses while ensuring only eligible Malaysians benefit from subsidised diesel
The Energy Commission has set a new average base tariff of 45.40 sen/kWh for RP4, slightly lower than before, bringing overall electricity costs down by up to 19% compared to the previous regulatory period
