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Johari: Govt may increase BR1M amid rising fuel prices

 | November 15, 2017

The second finance minister says this may be possible in view of the increased revenue from rising global fuel prices.



KUALA LUMPUR: There is a possibility that the government may increase the 1Malaysia People’s Aid (BR1M) due to rising fuel prices, says Second Finance Minister Johari Ghani.

Johari (BN-Titiwangsa) said the people could look forward to a bigger handout as the government would see an increase in revenue due to rising global fuel prices.

“When it comes to fuel, if you remember in 2008, the global fuel price reached US$140 (RM583.63) per barrel, and on average, we were at US$115 per barrel.

“We did not have BR1M then, but the retail price of our fuel in the market was RM2.70.”

He said if the government received more revenue, it could in turn give more to low-income earners, particularly BR1M recipients.

“It is highly possible we can consider increasing BR1M bit by bit, but this cannot be done permanently as when fuel prices drop, then BR1M will decrease too,” he said in the winding-up of the Supply Bill 2018 at the Dewan Rakyat today.

Johari also said that since the implementation of the weekly fuel pricing mechanism, petrol prices had gone up 19 times and dropped 12 times.

A total decrease of 74 sen was recorded while the total increase was 75 sen, with an impact of one sen, he said.

The fuel price, for the Nov 9-15 week, saw RON95 rising 7 sen from RM2.24 a litre to RM2.31, while RON97 rose 6 sen from RM2.54 a litre to RM2.60.

The price of diesel, meanwhile, rose 3 sen from RM2.17 to RM2.20.

The prices have gone up again, effective midnight, for the week of Nov 16-22. RON95 petrol will increase by 7 sen from RM2.31 to RM2.38, while the price of RON97 would go up 6 sen from RM2.60 to RM2.66.

The price of diesel, meanwhile, would see an increase of 5 sen from RM2.20 to RM2.25.

These are the highest prices ever recorded since the weekly fuel pricing mechanism came into effect on March 29 this year.

Prime Minister Najib Razak, when tabling the budget recently, had said that the government would continue with the present BR1M payments of RM1,200 to seven million recipients.

We are a happy nation thanks to BR1M, says Najib

Those with household income below RM4,000 can get BR1M

Govt still subsidising fuel prices, says Treasury sec-gen

Petrol prices up again, RON95 at RM2.38


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