By DayakDaily Team
PUTRAJAYA, June 9: Diesel subsidies for certain groups in Peninsular Malaysia will be discontinued starting at 12am on June 10, says Second Minister of Finance, Datuk Seri Amir Hamzah Azizan.
The price of a litre of diesel will be put at RM3.35 as opposed to the previous value of RM2.15, which according to Amir, follows the unsubsidised market price which is based on the average as of May 2024.
“The retail price of diesel fuel for Sabah, Sarawak, and Labuan remains at RM2.15 per litre,” he said in a statement today.
Amir said that with the targeted assistance mechanism already in place, the government is now ready to adjust the diesel price for all states throughout the peninsula.
“For the incoming period, the current diesel price will be announced weekly, following the current practice of the Finance Ministry,” Amir said.
He added that the government will continue monitoring the current situation to avoid price instability.
Following the discontinuation of the diesel subsidy, Amir said that 30,000 citizens are set to receive the Budi Madani individual and Budi Madani Agri-commodity cash aid programmes, whereby RM200 will be deposited into each account starting from June 10, 2024.
The recipient group comprises individuals owning diesel vehicles, small-scale farmers, and commodity smallholders.
Amir explained that the government is implementing targeted approach in order to stem the increasing leakage of subsidised diesel that have cost the country billions of ringgit. He said that last year (2023), the government had spent RM14.3 billion in diesel subsidies.
“Malaysia can ill afford to continue losing billions of ringgit to smuggling, which could otherwise be better spent to benefit Malaysians and developing our nation.
“Individuals eligible for Budi (Madani) Individual and Agri-commodity who have not yet registered, can still receive their monthly cash assistance for June 2024 if they apply before the end of June,” added Amir.
The government urges eligible individual owners of diesel vehicles, small farmers, and commodity smallholders to apply for Budi Madani at https://budimadani.gov.my.
Owners of eligible logistics vehicles should also apply for fleetcards under SKDS2.0 through https://mysbusidi.kpdn.gov.my. — DayakDaily
