The government says that its planned targeted fuel subsidy programme is still on the cards, but will begin with diesel, with that for RON 95 petrol being introduced at a later date. According to deputy finance minister Datuk Seri Ahmad Maslan, targeted subsidies will first involve electricity and diesel when it is implemented, The Star reports.
“We are looking into targeted subsidies for electricity and diesel. We might delay targeted subsidies on RON 95. When will the targeted subsidies be implemented? Wait for the announcement,” he said during his winding-up speech on Budget 2023 in parliament yesterday.
A targeted fuel subsidy was expected to be announced in the revised Budget 2023 that was tabled by prime minister and finance minister Datuk Seri Anwar Ibrahim on February 24, but nothing of this came about.
The matter of targeted subsidies has been brought up on numerous occasions over the years, and Anwar renewed the push to implement such a scheme when he took office. Last November, he asked relevant government ministries to explore the impact of such a move.
In February, Ahmad told the Dewan Rakyat that the government could save up to RM17 billion should it implement a targeted subsidy mechanism and remove subsidies enjoyed by the T20. He said that the government spent RM50.8 billion in subsidies for petrol, diesel and liquified petroleum gas (LPG) in 2022.
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