We might have to current our MyKad (Identification Card or IC) at petrol stations in Malaysia earlier than fuelling up quickly. This identification system is among the many proposed options presently beneath dialogue to perform focused subsidies for RON95 petrol that can come into place from mid-2025, as introduced by the prime minister Anwar Ibrahim on Friday.
When carried out, 85% of Malaysians will proceed to take pleasure in RON95 gas at its subsidised worth of RM2.05 per litre, whereas the T15 (prime 15% earners), described by the PM because the maha kaya or tremendous wealthy, should pay extra. Presently, unsubsidised RON95 is priced at RM2.76 per litre.
How precisely the pump costs will probably be set stays in query. One resolution is for us to make use of our MyKad earlier than fuelling up, in keeping with transport minister Anthony Loke.
“This implies there will probably be two pricing mechanisms — one for eligible Malaysians, and one other for the T15 and foreigners. Nevertheless, that is only a proposal, and extra particulars will probably be introduced by the Finance Ministry within the coming months,” Loke was quoted as saying by The Edge.
The concept of utilizing the MyKad to set the pump worth (whether or not one ought to obtain the gas subsidy or not) is just not precisely new. Again in 2014, then-deputy finance minister Datuk Ahmad Maslan introduced {that a} comparable idea was within the works for the petrol subsidy rationalisation programme.
Again then, the plan was to have three separate tiers of RON95 pricing. These incomes under RM5,000 monthly will obtain full subsidy, whereas these incomes between RM5,000 and RM10,000 will get partial subsidy. No subsidised gas for these incomes over RM10,000 monthly.
For 2025, with the excellence set to a comparatively arbitrary T15 classification, we should wait and see what the precise revenue threshold will probably be set at (to find out in the event you’re eligible to take pleasure in petrol subsidies or not).
So pricey Malaysians, what do you consider this MyKad thought, and the way a lot ought to the revenue threshold be set at? Focus on under.
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