Only Malaysians earning below RM10,000 monthly will be eligible for fuel subsidies starting next year. – The Malaysian Insider file pic, October 27, 2014.
Only Malaysians earning below RM10,000 monthly will get fuel subsidies from next year while those earning below RM5,000 monthly will get full subsidies, Putrajaya announced today.
Finance Minister II Datuk Seri Ahmad Husni Hanadzlah said the subsidy rationalisation programme would be divided into three tiers.
"Those earning below RM5,000 per month will receive full subsidy while those earning between RM5,000 and RM10,000 will get a partial subsidy," he told reporters after officiating the Bank Rakyat International Islamic Banking Conference today.
He said the full mechanism was still being studied by the Domestic Trade, Cooperatives and Consumerism Ministry.
Putrajaya spends some RM24 billion a year on fuel subsidies for motorists but gets back about RM7 billion from sale of approved permits to import vehicles.
MORE TO COME
- TMI
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