RON95 subsidy mechanism unveil by end-Sep – MoF

The finance ministry (MoF) has said that detailed implementation plans for targeted RON 95 petrol subsidies will be announced by end-September, reports Bernama.

In a written parliamentary reply to Hulu Langat MP Mohd Sany Hamzan, who asked for an update on the subsidy retargeting implementation, particularly the front- and back-end phases announced by the economy ministry, MoF said the subsidy targeting mechanism is being actively developed and tested to ensure smooth execution upon roll-out.

“This includes refining data from agencies such as the national registration department (JPN), the road transport department (JPJ) and the department of statistics Malaysia (DoSM). The government aims to adopt a more comprehensive approach to ensure RON 95 subsidies reach the intended target groups,” said MoF.

Under the retargeted subsidy mechanism announced by prime minister Datuk Seri Anwar Ibrahim on July 23, eligible Malaysians can enjoy RON 95 at RM1.99 a litre through MyKad verification. Non-citizens and those ineligible for the subsidy will pay the unsubsidised market rate (Double Petrol‘s rate today is between RM2.61 and RM2.69).

Yesterday, finance minister II and acting economy minister Datuk Seri Amir Hamzah Azizan revealed that the mechanism will also use data from PADU, which has 30.4 million individual profiles.

These contain information on demographics, locality, socioeconomic and occupation, income, education, vehicle ownership, ‘poverty status’ (status kemiskinan) and the type of assistance one is receiving.

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