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Monday, July 1, 2019

Petrol subsidies to be issued via direct paying system



The low-income group is expected to receive the targeted petrol subsidy via a direct paying system rather than through a subsidy card.
The Malaysian Insight (TMI) today quoted ministry sources as saying that the Finance Ministry has agreed for the move, pending Cabinet approval, despite having already appointed vendors for the rejected subsidy card system.
The vendors would instead work for the new system.
The proposal is slated to be presented at next week's Cabinet meeting for approval.
Upon the green light, the implementation of the system is expected to take effect at the end of this month.
Under the scheme, the recipients are required to open a remittance account to receive the subsidy after they have paid for petrol at regular prices, it reported.
The sources were also quoted as saying that the Domestic Trade and Consumer Affairs Ministry and industry players preferred the direct paying system over the subsidy card.
Report being finalised for Cabinet
Officials in the two ministries are now finalising the report for the Cabinet, it is learned, TMI reported.
In April, Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail told Parliament that Putrajaya was deciding between two methods of implementing the fuel subsidy.
Saifuddin had also said the government was building a special database for the subsidies, different from the one utilised for the Cost of Living Aid (BSH) programme.
In Budget 2019, RM2 billion was to be allocated for the government to implement the targeted fuel subsidies in the second half of the year.
The planned subsidies are intended to replace the controlled petrol price currently in place, which is a blanket subsidy.
Owners of cars under 1,500cc and motorcycles under 125cc are entitled to the 30 sen a litre subsidy. - Mkini

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