KUALA LUMPUR: Owners of cars and motorcycles with 1,500cc and 125cc engines, respectively, have much to rejoice as they can enjoy RON95 petrol subsidies of 30 sen per litre.
Finance Minister Lim Guan Eng said car owners would receive RON95 petrol subsidies limited to 100 litres, while motorcycle owners would get 40 litres.
“This new (subsidy) mechanism is expected to begin in the second quarter of 2019. For this, RM2 billion is allocated and is expected to benefit around 4 million car owners and 2.6 million motorcycle owners,” he said while tabling Budget 2019 at the Dewan Rakyat on Friday.
He said the government would also re-float the RON95 petrol price in the market via the Automatic Price Mechanism, in order to increase efficiency in use of resources, among others.
Pakatan Harapan, in its manifesto, had pledged to give targeted petrol subsidies to private car owners with car engines of 1,300cc and below and to motorcycle owners with machines with 125cc engines, at 100 litres a month.
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