KUALA LUMPUR, Nov 5 — The targeted subsidy for RON95 petrol is essential to mitigate leakage involving usage by individuals who should not benefit from it, said Finance Minister...
MACC quizzes FashionValet founders Vivy Yusof, Fadzarudin Shah over RM43.9m investment losses linked to Khazanah, PNB after office raid in KL
“Considering that the RON95 petrol subsidy amounts to around RM20 billion annually, addressing leakage to foreign nationals, the commercial sector, and affluent individuals could result in savings of up to RM8 billion each year,” he said during the Minister’s Question Time in the Dewan Rakyat today. He added that diesel sales at petrol stations have decreased by about 25 per cent, equating to nearly seven million litres per day, while commercial diesel sales have increased by nearly 50 per cent, or four million liters per day. This indicates that the industrial sector has ceased purchasing subsidised diesel.
With regard to the MyBudi initiative, Amir Hamzah reported that as of October 31, over 140,000 individual Budi recipients and 65,000 agribusiness Budi recipients have been approved within five months of its implementation, which began in June 2024, amounting to total payments of RM160 million.
Finance Ministry Amir Hamzah Azizan
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