KUALA LUMPUR: The targeted subsidy for RON 95 petrol will be implemented in the middle of next year, said Prime Minister Datuk Seri Anwar Ibrahim.
He said this was based on the government's commitment to always protect the wellbeing for the people and to ensure funds are placed in where they are needed most.
"The government is committed to continue bearing RM12 billion in subsidies for the benefit of 85 per cent of the people. These are not for the mahakaya (very rich) or foreigners. I hope there are no mahakaya in this hall.
"The government is planning to implement targeted subsidy for RON 95 petrol in the middle of 2025. The savings from this would be channeled for the people's wellbeing, including for eduction amenities, healthcare and public transport," he said in the tabling of the 2025 Budget (Belanjawan 2025) in Parliament.
He said the rich and foreigners were currently enjoying the subsidy for RON 95, and this was not sustainable.
"We cannot deny that foreigners and the top 15 per cent of mahakaya (very rich) segment enjoy 40 per cent of the RON 95 subsidy amounting to RM8 billion.
"I need to remind everyone that it is better for this RM8 billion to be channeled into education facilities, healthcare and public transport."