(Kuala Lumpur, 23rd) Prime Minister and Finance Minister Dato' Seri Anwar stated that with the implementation of the targeted RON95 fuel subsidy plan, the price of RON95 will drop to RM1.99 per litre, ensuring that ordinary people are not affected.
“Once the targeted RON95 fuel subsidy is implemented, Malaysians will enjoy a lower RON95 price, which is RM1.99 per litre.
“This will certainly benefit approximately 18 million car drivers and motorcyclists, including youths as young as 16 and gig economy workers.
He stated this during the 'Rebate for the People' special announcement broadcast live today on major television stations and social media platforms.
Anwar said the government remains committed to implementing the targeted RON95 fuel subsidy, with details to be announced by the end of September.
He pointed out that just last year and this year, the RON95 fuel subsidy alone is estimated to have cost nearly RM20 billion per year.
“Despite the decline in international oil prices this year, the unsubsidised RON95 price is still about RM2.50 per litre, which is much higher than the subsidised price provided by the government for the people.
“At the same time, foreign nationals must pay the unsubsidised market price.”
Anwar emphasised that the government is committed to controlling national subsidy spending, allowing ordinary people to continue enjoying subsidies while addressing the issue of subsidies benefitting ineligible individuals.
He cited the electricity tariff adjustment implemented from July as an example, noting that some irresponsible individuals claimed that electricity bills would rise for the people after the adjustment.
He stressed that, in fact, 85% of household users saw their electricity bills decrease by as much as 14% under the same electricity usage compared to the first half of this year.
“This targeted measure aligns with the government’s commitment to optimising national resources to benefit the people and efforts to reduce subsidy wastage.”
“Once the targeted RON95 fuel subsidy is implemented, Malaysians will enjoy a lower RON95 price, which is RM1.99 per litre.
“This will certainly benefit approximately 18 million car drivers and motorcyclists, including youths as young as 16 and gig economy workers.
He stated this during the 'Rebate for the People' special announcement broadcast live today on major television stations and social media platforms.
Anwar said the government remains committed to implementing the targeted RON95 fuel subsidy, with details to be announced by the end of September.
He pointed out that just last year and this year, the RON95 fuel subsidy alone is estimated to have cost nearly RM20 billion per year.
“Despite the decline in international oil prices this year, the unsubsidised RON95 price is still about RM2.50 per litre, which is much higher than the subsidised price provided by the government for the people.
“At the same time, foreign nationals must pay the unsubsidised market price.”
Anwar emphasised that the government is committed to controlling national subsidy spending, allowing ordinary people to continue enjoying subsidies while addressing the issue of subsidies benefitting ineligible individuals.
He cited the electricity tariff adjustment implemented from July as an example, noting that some irresponsible individuals claimed that electricity bills would rise for the people after the adjustment.
He stressed that, in fact, 85% of household users saw their electricity bills decrease by as much as 14% under the same electricity usage compared to the first half of this year.
“This targeted measure aligns with the government’s commitment to optimising national resources to benefit the people and efforts to reduce subsidy wastage.”