New fuel subsidy system will be implemented next year.Read the full news from Bernama below.
GOVERNMENT TARGETS MAY NEXT YEAR FOR IMPLEMENTATION OF FUEL SUBSIDY SYSTEM.
PUTRAJAYA, Nov 17 — The government has target May next year for implementation of the fuel subsidy system, said Minister of Finance II, Datuk Seri Ahmad Husni Hanadzlah.
Husni said the structure of the fuel subsidy system will be ready by April.
“A large number of motor vehicles owners will most likely be entitled to the subsidy,” he told reporters after celebrating his ministry’s Innovation, Integrity and ICT day.
According to Husni it is envisaged that the fuel subsidy system would enable huge savings for the government.
“We will also take into consideration the government’s aim in ensuring the welfare of the people, as well as the economic development of the country,” he said.
He said there is also a possibility that those in the higher income bracket as well as tourists, would not be eligible for the subsidy.
“We are studying the criteria for the subsidy now, with the engine size of motor vechicles, being a possible benchmark,” he explained.