Up to RM1,480 in BSH payments; RON95 to be floated with targeted subsidy

Budget 2019: Finance Minister Lim Guan Eng today unveiled Budget 2019, which is set to retain the cash handout policies but under a new structure.

Lim said under the Cost of Living Aid (BSH), households earning under RM2,000 a month will receive RM1,000 in cash handouts and an additional RM120 for each child under the age of 18, up to four children.

This means households earning less than RM2,000 a month will each receive between RM1,000 to RM1,480.

As for households earning between RM2,001 to RM3,000 a month, they will receive a fixed amount of RM750 while those earning between RM3,001 to RM4,000 a month will get RM500.

The RM120 per child under the age of 18 rule also applies to them. There is no age limit for children who are disabled.

The BR1M payment under the previous BN government was RM1,2000 for households earning under RM3,000 a month, while those earning between RM3,001 to RM4,000 were given RM900.

Under BSH, singles will no longer receive cash handouts.

Finance Minister Lim Guan Eng said 4.1 million households will benefit from BSH.

 

Lim also announced that the government will match up to RM40 monthly for husbands who contribute to the Employees Provident Fund for their wives.

In his speech to the Dewan Rakyat, Lim also revealed the government plans to roll out a targeted petrol subsidy mechanism by the second half of 2019.

He added that once this was implemented, RON95 petrol price will be floated according to the automatic pricing mechanism.

He said the subsidy will be provided to vehicles with engines up to 1,500cc and motorcycles with an engine of 125cc and below.

"The government will provide a RON95 petrol subsidy of 30 sen per litre for up to 100 litres a month for cars and up to 40 litres a month for motorcycles," he said.

Lim said the government will end its policy of giving the RM20 electricity subsidy for households.

Instead, Lim said the subsidy will now only apply to the poor under in the e-Kasih database but the subsidy amount will be doubled to RM40.

For public transport, Lim announced that beginning 2019, a RM100 pass will be introduced for the unlimited use of rail and RapidKL buses.

There will also be a RM50 pass for unlimited use of RapidKL buses. Lim said this is to encourage public transport usage. - Mkini