The price of RON 97 petrol will be floated according to market prices on June 7, according to a report by The Star. Finance minister Lim Guan Eng confirmed the date via a press conference today, adding that, as promised, RON 95 petrol and diesel prices will be pegged at their current levels at RM2.20 and RM2.18 per litre respectively.

Lim said that stabilising fuel prices, part of a raft of measures to return money to Malaysians and boost the “real economy,” will enable citizens to save as much as RM3 billion.

UPDATE: The source report incorrectly said that the targeted subsidies for cars under 1,300 cc of engine capacity and motorcycles under 125 cc would be introduced, but this is not the case. The story has been edited to reflect this.

The former Penang chief minister however said that the government has decided to postpone some of the 100-day initiatives it pledged in Pakatan Harapan’s manifesto for the 14th general elections. Among these are targeted subsidies for cars under 1,300 cc of engine capacity and motorcycles under 125 cc.

In it, the coalition said that if it won the elections (it did, of course), it would set an appropriate quota for subsidies, with the mechanism tied to an individual’s identification card, presumably to prevent abuse. In this manner, subsidies will be targeted only at those who need such subsidy assistance.

Lim explained that the initiatives will only be carried out by the government once the country’s financial situation improves, the New Straits Times reports.

“As much as the government wants to carry out all these in 100 days, the government has a fiscal responsibility and will not repeat the mistakes of the previous government by creating financial problems which will lead the country to bankruptcy if not contained. If the nation’s financial situation improves in 100 days, we will carry out (the initiatives) but if not, we will wait until it improves,” he stated.