The government has set a date for the rationalisation of diesel subsidies, but will only make the announcement at an appropriate time. This is to minimise speculative inflation from occurring as much as possible, according to economy minister Rafizi Ramli.
“It’s just that the sequencing has to be correct and it is about balancing and reducing the risk of knock-on inflation. We have figured it out,” he said, adding that the government will have to make sure that there is no unnecessary knock-on effects on inflation, as Bernama reports.
He explained that another reason for not announcing the date early on is to prevent hoarding of the fuel from taking place. “Sometimes if it is an early plan, suddenly users will ‘stock up’ early because they know the price will go up in two or three months,” he said.
“If we do diesel subsidy retargeting for the purpose of managing hoarding and smuggling, announcing the date will contribute towards the spike in smuggling,” he explained, adding that it would be impossible to carry out stricter enforcement, given that there are only about 2,500 enforcement officers.
The removal of a blanket subsidy for diesel will see targeted subsidies being dispensed via the Budi Madani assistance programme. Announced on May 27, the programme is open to private owners of diesel-powered vehicles as well as agriculture smallholders in Peninsular Malaysia. Eligible recipients in both categories will receive a RM200 monthly sum in financial assistance.
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My best guess is on the 10 June because Budi fellow will be getting RM200 on that day.
My guess is after the 7 byelections that the rogue Bersatu MP have to vacate after resigning the party.
100% this month lah. Already announce money go into account starting 10 June 2024 unless U-turn. Inflation already started since PMX announcement. Worse things to come and too late for regret. Sabah & Sarawak people good loh like as if no rich people and foreigners there ands continue to enjoy subsidies. Pity the Peninsular Malaysians who kena goreng hidup hidup!!!
will announce the date later because still in the midst of deriving the best formula.
Malaysia run out of money
Budget every year deficit for decades
govt kuli promise increment DEC 2024
Take away subsidies
USE money paid for increment
vote Firdaus WONG next time
Why is his annoucement always premature and “at a later date”?
Annoucing the date now will cause a spike in smuggling? your analytic model predicting that?
PH used to fight so hard against Barang Naik. Now they are Barang Naik 2.0. They are becoming their own enemy
Well Price Hike = Barang Naik no?
Vote for Price Nochange.
whatever la Piji.
you should rationalize yourself.
minyak turun ! mandate of PH :)