KUALA LUMPUR: The Finance Ministry (MOF) is refining the mechanism for the proposed targeted RON95 petrol subsidy, set to roll out in mid-2024.
According to Muhammad Kamil Abd Munim, political secretary to the Finance Minister, engagement sessions with stakeholders are actively being conducted to identify the best approach.
"We want to ensure that when this targeted subsidy scheme is implemented, it does not lead to confusion or concern, especially regarding its process and operation," he explained.
During the ongoing review, Muhammad Kamil emphasised that careful attention will be given to ensure that truly deserving groups continue to receive the subsidy without disruption. Muhammad Kamil, who also serves as deputy chief of the PKR Youth Wing, shared these insights on Bernama TV's 'Ruang Bicara' programme last night.
When tabling 2025 Budget on Oct 18, Prime Minister Datuk Seri Anwar Ibrahim announced plans to implement targeted subsidies, estimating potential savings of up to RM8 billion.
The current RON95 petrol subsidy reportedly benefits 40 percent of foreigners and wealthier citizens. Nonetheless, the government remains committed to maintaining subsidies for the majority, demonstrated by the recent targeted electricity subsidy. - BERNAMA