Some Joker sent me this email , I guess it must be from the Pakatan Rots or the DAP morons who probably wanted to see protests and getting the country sodomised by their foreign gay lovers . What a spin ! I find it preposterous since petrol without subsidy will only cost $2.70 a liter .
Subject: From May 1, the fuel will be pegged at RM 3.90 per litre for RON97, while RON95 will increase to RM 3.70 per litre
Attention to all Malaysian car owners....FYI.
PUTRAJAYA, Jan 8 - The mechanism for fuel pricing in Malaysia has finally been finalized and controlled under one mechanism, which also takes the high and lower income group people into consideration, according to Finance Trade Minister Tan Sri Anuar Ali.
"From May 1, the fuel will be pegged at RM 3.90 per litre for RON97, while RON95 will increase to RM 3.70 per litre. However, the prices of national-made vehicles will be lowered by at least 40 percent. For example, a full-spec family sedan Proton Persona 1.6 litre engine will cost around RM 23,000.00 excluding road tax and insurance. Import tax and excise duty will be revised to only 30 percent, from the current 200 percent. Imported vehicles such as the newToyota Camry 2.4 litre engine will cost around RM 65,000.00." he said.
The mechanics has been said to be undertaken by a team of experts from Australia and Canada who were earlier briefed on the issue of subsidy in this country, whereas after consideration by the transport minister, they have signed the constitution that the system will be made on May 1, the day it goes into effect.
Under the new system, there will be a major effect on the existing consumers who have already purchased a vehicle and to those who are in the midst of repaying the loan of their vehicle to their financial institutions.
Ahmad Tajuddin said the government might also re-introduce a cash return annually to Malaysians who own a 1,500 cc and below vehicle. The amount have yet to be decided but he assured that the amount will compensate the price of fuel by at least half to eligible Malaysians based on bumi quota.
- SkyNet News Asia
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Government scraps tiered fuel subsidies for simpler ways
KUALA LUMPUR, Feb 24 — The government is looking at simpler ways to subsidise fuel for consumers after quietly scrapping the proposed tiered fuel subsidies scheduled for May 1 due to its complexity.
Industry sources said Putrajaya made the decision “recently” after complaints that the new subsidy system which uses MyKad for petrol purchase could be a hassle for consumers and petrol dealers apart from causing congestion at fuel stations.
“Oil industry executives have been asked to stop implementing the tiered subsidy system as the government has stopped it,” an industry source told The Malaysian Insider.
A consultant working on the programme confirmed the move, saying “the decision was made fairly recently.”
“It was just too complex and unwieldy,” he admitted to The Malaysian Insider, referring to the tiered subsidy system.
Under the programme that was being handled by Malayan Banking Berhad, motorists had to register using their Mykad to be eligible for some subsidy for one vehicle from May 1.
However, petrol dealers complained of additional costs despite making only 12.19 sen per litre for petrol and seven sen per litre for diesel. RON95 petrol is currently sold at RM1.80 a litre, RON97 and diesel at RM2.05 and RM1.70 a litre respectively. Shell is the only retailer selling the premium RON 97 Shell V Racing at an unsubsidised price of RM2.38 a litre.
The government has never revealed the tiered fuel subsidy system but went only as far to say that foreigners would not be eligible for subsidised prices. Fuel prices in Malaysia are cheaper than neighbours Indonesia, Singapore and Thailand.
Foreign motorists are only allowed to buy fuel up to 20 litres within 50km of the borders except for the unsubsidised premium Shell V Racing petrol.
“Now the authorities will find another way to implement subsidies without burdening the public and the petrol dealers,” the industry source added.