RON5 is cheap? That era is over!
After long planning various initiatives to rationalize the RON95 subsidy, the Malaysian Government on Monday confirmed that the targeted RON95 subsidy will begin in the second half of 2025, a bold move that may have a huge impact on Malaysians in their daily lives.
Second Minister of Finance, Datuk Seri Amir Hamzah Azizan said that his party will focus on transparency to ensure that only those who are truly eligible will continue to receive subsidy assistance, in line with the country's subsidy rationalization agenda.
He explained that the identification of the RON95 subsidy will be made through MyKad, which has been proven to be effective in the Basic Rahmah (SARA) program.
Datuk Seri Amir Hamzah stressed that his party is actively streamlining the system to enable MyKad to be used to channel the RON95 subsidy in a targeted manner more efficiently.
He also revealed that the government is re-evaluating the eligibility level of subsidy recipients, meaning that middle-income groups may be 'excluded' from the list of recipients.
This move is expected to reduce the fiscal burden of the government which has been bearing the subsidy open to all including those who can actually afford the real price.
Cheap oil is no longer everyone's right. Are we ready to face the real market price for a more sustainable economy?
