PUTRAJAYA: Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail announced a petrol subsidy programme for the lower income group today in a bid to reduce the cost of living for the community.
Some 2.9 million people are qualified to receive the subsidy which will be implemented on Jan 1 next year and is capped at RM30 per month for cars and RM12 per month for motorcycles.
They are those who currently received Cost of Living Aid and own vehicles in the following categories:
- Cars with 1,600cc engines;
- Cars 10 years and older with 1,600cc engines and above;
- Motorcycles with 150cc engines and below; and
- Motorcycles seven years and older with 150cc engines and above.
Saifuddin said the subsidy would be directly credited to recipients’ bank accounts every four months.
The price of RON95 petrol will then be floated in the peninsula with adjustments to be made in stages.
Those in Sabah, Sarawak and Labuan will not be eligible for the subsidy as petrol prices there will be capped at RM2.08.