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Fuel Subsidy Rationalisation Scheme To Be Divided Into 3 Tiers

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KUALA LUMPUR – The fuel subsidy rationalisation scheme to be implemented next year will be divided into three tiers depending on the monthly income, said Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah.

He said those earning below RM5,000 per month would still enjoy the fuel subsidy and those earning above RM10,000 not eligible.

He said the mechanism was still being studied in detail by the Domestic Trade, Cooperatives and Consumerism Ministry.

“The first tier (with individual salary below RM5,000) would be fully supported with 100 per cent subsidy, tier two for those with low- to middle-income will get a partial subsidy and the tier three (those earning above RM10,000) will not get the subsidy.

“The implementation would be based on an individual’s salary, unlike BR1M which was based on household income,” he told reporters after officiating the Bank Rakyat International Islamic Banking Conference 2014 (IIBC 2014) here today.

On how the government could monitor the claimant, the minister said the entitlement for each car would be based on the registered owner of the vehicle.

“A special body to verify the entitlement and monitor the implementation of the subsidy rationalisation scheme would be set up,” he said.

The two-day inaugural IIBC 2014, starting today, was initiated by Bank Rakyat as part of its 60th anniversary celebration. – BERNAMA

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