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Harapan govt reiterates promise for targeted petrol subsidies
Published:  Jul 23, 2018 3:28 PM
Updated: 7:31 AM

PARLIAMENT | The Pakatan Harapan government has reiterated its intention to implement targeted subsidies for petrol as promised in its election manifesto.

"The government will provide fuel subsidies at a suitable rate every month to qualified groups using motorcycles 125cc and below as well as cars 1300cc and below.

"A suitable quota will be set as well. A detailed mechanism is being studied and will be announced when decided," said Finance Minister Lim Guan Eng.

He said this in a written parliamentary reply from last Thursday in response to a question from Bung Moktar Radin (BN-Kinabatangan).

Bung had asked what mechanism the government intends to use to determine the rate of fuel prices according to global oil prices.

Lim reiterated that for now, the government has decided to maintain the price of RON95 and diesel at RM2.20 and RM2.18 per litre respectively.

Meanwhile, the price of RON97 will be floated weekly based on the trend of global crude oil prices, he said, as it is considered a "premium" product.

The government has also set aside RM3 billion to subsidise petrol prices for this year, he said.

Pakatan Harapan had promised to provide targeted petrol subsidies in its manifesto for the 14th general election.

The coalition then said that it will devise a mechanism to enable the targeted subsidy to be allocated using data on national identity cards which would ensure only those who qualified would be able to access it.