KUALA LUMPUR — The Malaysian government’s targeted fuel subsidy program will benefit some five million vehicle users in the middle-income group (M40), says Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.
These are in addition to the initial 2.9 million eligible recipients in the bottom 40 (B40) group.
“Based on Budget 2020, we used the data under the BSH recipients where 2.9 million recipients were identified, but when we open it to the M40 group, it is estimated that some eight million people will benefit from it, involving a total of RM2.2 billion ($525 million),” he said in reply to a question from Dr Kelvin Yii Lee Wuen (PH-Bandar Kuching) during Question Time yesterday.
Dr Yii had asked about the government’s preparedness to roll out the targeted subsidy fuel scheme.
“On the weekly cost to retain the price of RON95, the Finance Ministry estimated that RM99.76 million ($24 million) is needed based on the actual pump price of RM2.37 ($0.57) a liter per week between Oct 12 and Oct 18,” he said.