Strong ringgit may delay RON95 subsidy cut – Rafizi

Strong ringgit may delay RON95 subsidy cut – Rafizi

It has been ventured that more details on the RON 95 petrol subsidy rationalisation will be revealed in the upcoming tabling of Budget 2025 this Friday, but the news surrounding that may be different than anticipated, with the latest pointers being that the implementation may be delayed because of improvements to the country’s economy.

This was indicated by economy minister Rafizi Ramli, who said Malaysia’s better-than-expected economic growth and the strengthening of the ringgit has provided the government improved flexibility to achieve its fiscal consolidation targets, essentially paving the way for the implementation of RON 95 subsidy rationalisation to be put aside for the time being.

Asked by reporters on whether the plan to pull back the blanket RON 95 subsidy will be announced in Budget 2025, Rafizi said it was best to wait for the budget announcement and “subsequently the months after that, because certain things have changed,” The Edge reports.

Strong ringgit may delay RON95 subsidy cut – Rafizi

Rafizi said that with higher economic growth, the country had slightly more room to navigate to meet its fiscal glide target. ““The strengthening of the ringgit also means less pressure on subsidy bills. My view is that so long as this government has more options to navigate, then we will be able to balance these competing priorities better, while at the same time, we will move closer to the fiscal consolidation target,” he said

“The ultimate objective is to make our public finance a lot more sustainable. And I think we have a few policy options that the government can adopt,” he added.

While there has yet been no indication as to when the subsidy rationalisation for RON 95 will be introduced, most research houses have projected that the implementation may take place in the second half of 2024. Back in July, prime minister Datuk Seri Anwar Ibrahim had indicated that there was no policy paper on it as yet, and that no plans were in the pipeline as the matter had not been discussed yet at that point.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Sohai on Oct 16, 2024 at 3:14 pm

    Do you still believe whatever pizi is saying?

    Like or Dislike: Thumb up 41 Thumb down 3
    • Rakyat Malaysia on Oct 16, 2024 at 6:46 pm

      So he is now blaming our RM for not carrying out his plan to further kill the rakyat? Whodayathunkit.

      Like or Dislike: Thumb up 15 Thumb down 3
      • Dah Menang Semua on Oct 16, 2024 at 10:52 pm

        Good Good very Good
        No need EV or Hybrid
        Can save money already

        Like or Dislike: Thumb up 7 Thumb down 4
    • Disgusting chameleon..A clear and present danger on Oct 16, 2024 at 9:45 pm

      That dude has been making fun of poor covid stricken rakyat during the diesel price floatation exercise.Like a chameleon,he needs to change colour,if not he knows he wont stand a chance at GE 16.
      Time to vote out all the trojan horses,chameleons GE16.

      Like or Dislike: Thumb up 16 Thumb down 4
      • Who dum, read the capital in my comment on Oct 17, 2024 at 3:21 pm

        ‘x payah naik bendera putih, bendera birU x pe’

        who said that, read my name above

        Like or Dislike: Thumb up 1 Thumb down 1
  • TinKosong on Oct 16, 2024 at 3:35 pm

    refer my name…

    Like or Dislike: Thumb up 26 Thumb down 0
  • ahhh, another formula by formula man

    Like or Dislike: Thumb up 24 Thumb down 1
  • Janji dicapati on Oct 16, 2024 at 5:24 pm

    Refer my name

    Like or Dislike: Thumb up 15 Thumb down 0
  • Nurul Izzah on Oct 16, 2024 at 5:25 pm

    Anwar menang rakyat senang

    Like or Dislike: Thumb up 4 Thumb down 7
  • Menteri Formula on Oct 16, 2024 at 5:25 pm

    Dengar boleh, percaya jangan

    Like or Dislike: Thumb up 19 Thumb down 1
    • Rakyat Malaysia on Oct 16, 2024 at 6:46 pm

      Basically the whole Madani Gomen yet Nengiri voters belip them orz

      Like or Dislike: Thumb up 13 Thumb down 2
  • Bebaskan bossku on Oct 16, 2024 at 6:43 pm

    Hapus sajalah subsidi terus, buat apa delayed2. Bukan esok pilihanraya pun

    Like or Dislike: Thumb up 15 Thumb down 1
  • Where is the today win tomorrow price down?

    Like or Dislike: Thumb up 6 Thumb down 0
  • WeeWee on Oct 17, 2024 at 2:19 pm

    Always a reason to justify the delay of PADU…
    by the time is needed, the data already stale.

    Like or Dislike: Thumb up 4 Thumb down 0
  • Wayang antarabangsa on Oct 19, 2024 at 8:49 pm

    Strong ringgit? Joke of the decade… clowns!

    Like or Dislike: Thumb up 0 Thumb down 0
 

Add a comment

required

required