The Domestic Trade and Consumer Affairs Ministry will leave the decision to implement the petrol subsidy programme (PSP) to the cabinet.

Its minister, Saifuddin Nasution Ismail, said the cabinet would make the decision based on the outcome of discussions between his ministry and the Finance Ministry.

"We had our meeting in the first week of this month and together we will prepare our report to the cabinet. The cabinet will make a decision," he told reporters on the sidelines of the Malaysia Economic and Strategic Outlook Forum in Kuala Lumpur today.

"The status now is to put a hold on it, not to stop it. We have been given the task to fine-tune (the PSP)."

The PSP, scheduled for implementation on Jan 1, has been postponed to a yet to be announced date.

The programme was meant for some 2.9 million people in the B40 group who are eligible for a cost of living allowance.

During the tabling of the 2020 Budget on Oct 11, Finance Minister Lim Guan Eng announced that the PSP would be expanded to include about five million middle-income earners with a monthly household income of less than RM4,000.

Saifuddin said his ministry had identified the eligibility criteria for the PSP scheme.

"There are some methods that we will look into. As far as my ministry is concerned, we are ready," he added.

Asked on the progress of the Monopoly Review Committee, Saifuddin said the process is ongoing with scheduled meetings chaired by the Economic Affairs Ministry.

Earlier in his keynote address, Saifuddin said the Monopoly Review Committee was an ongoing initiative taken by the government which comprises the Economic Affairs Ministry, Transport Ministry, Ministry of Agriculture and Agro-based Industry, Health Ministry and the Domestic Trade and Consumer Affairs Ministry.

He added that the Malaysia Competition Commission (MyCC) was knee-deep amending the Competition Act 2010 to incorporate merger provisions that grant MyCC the power to review merger transactions that have harmful anti-competitive effects on the market.

Saifuddin said the amendment would help lessen anti-competitive mergers and control the high cost of living.

"In the meantime, my ministry, through the MyCC, will continue to monitor the online ride-hailing market post-merger to ensure that consumers are fairly treated and offered a fair price for ride-hailing services," he added.

The one-day forum was organised by Kingsley Strategic Institute and the Economic Club of Kuala Lumpur. — Bernama