Fuel Wallet GaugeWe really don’t know much about what to expect on the 1st of May 2010 except for speculation so far, but now it looks like Sin Chew has some details according to an unnamed source. Here is a summary:

  • Some kind of ‘registration exercise’ will begin in March in preparation for the new system’s implementation on the 1st of May. Maybe the government has changed their mind and will reveal our new nightmare two months ahead instead of the night before?
  • Someone who owns multiple cars will only be eligible for subsidy worth for one car only.
  • Someone who does not own a car does not get any subsidy quota. This combined with the point above means that if you have a few cars registered under your name but used by someone else (your kids for example) you should probably quickly change ownership of your cars to their designated drivers.
  • If a car owner finishes his monthly subsidy quota, the person can continue to purchase fuel, but at unsubsidised market rates.
  • Quota is expected to be anything between 100 to 300 litres per month.
  • The government is considering removing the engine capacity variable from the formula that determines your monthly subsidy.