Diesel subsidy application for vehicle owners opens tomorrow

 

Starting tomorrow, diesel vehicle owners in Peninsular Malaysia from the B40 and M40 groups can apply for subsidies from the Budi Madani Subsidy Aid Programme (Budi).

In a statement on Facebook, the Finance Ministry said eligible recipients will receive RM200 monthly in line with the targeted diesel subsidy.

“Eligible private diesel vehicle owners including smallholders can apply for Budi which will be open from May 28, 2024,” it said.

It added that owners of private diesel vehicles may apply through the Individual Budi category while smallholders may apply through Agro-Commodity Budi.

Applications can be made through https://budimadani.gov.my.

On May 21, Prime Minister Anwar Ibrahim, who is also the finance minister, announced that the government plans to end the blanket subsidy for fuel that benefits both the maha kaya (ultra-rich) and foreigners.

Instead, the government will implement targeted subsidies, which are expected to generate savings of RM4 billion per year.

Anwar said the government will continue to subsidise diesel for 10 types of public transport and 23 types of vehicles used to transport goods.

This is meant to curb a sudden increase in prices of goods and services once the blanket subsidy is withdrawn.

He also assured that savings generated will be returned to the people in the form of increased financial assistance.

Meanwhile, the Finance Ministry said those wishing to apply for the Individual Budi category must fulfil the following criteria:

• Is a Malaysian citizen

• Own a private diesel vehicle registered with the Malaysian Road Transport Department (RTD) other than a luxury vehicle under the age of 10 years

• Have an active road tax for the privately owned diesel vehicle

• Be an individual or couple with an annual income of RM100,000 and below

Smallholders who wish to receive the subsidy must meet the following qualifications:

• Must be registered with the relevant agencies under the relevant ministries

• Must be an active commodity smallholder with annual agricultural sales between RM50,000 and RM300,000.

All applications will be checked against Inland Revenue Board (IRB) data to exclude owners of luxury vehicles under the age of 10 years and those with high incomes, the ministry said.

Applicants who register and receive approval before June 3 will receive their first payment in the middle of June, the ministry said.

Those who apply later than June 3 will receive their first payment in two weeks and subsequent ones monthly.

It said Budi aid will be deposited in the bank accounts of recipients monthly, but those who wish to receive it in cash may do so at any Bank Simpanan Nasional in the peninsula.

Assistance and further information can be found at all IRB offices in Peninsular Malaysia, it added.

Enquiries can be made at the Budi Madani helpline: 1-800-88-2747, 03-8882 4565, 03-88824566, or email budimadani@treasury.gov.my.

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- Mkini