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The federal government has introduced that it’s going to introduce a focused diesel subsidy in phases. This was introduced by prime minister Datuk Seri Anwar Ibrahim in his Price range 2024 speech this night.
In line with the PM, subsidised diesel costs will proceed to be loved by chosen customers equivalent to items transport and logistics corporations, whereas different customers will likely be charged the next value. With that strategy, the federal government will have the ability to cut back subsidy leakage and on the identical time, cut back the impression on the worth of products for the individuals.
Anwar mentioned that the present subsidised diesel value, which is ready at RM2.15 per litre, could be RM3.75 per litre at market value. As such, the federal government is bearing RM1.60 for every litre of diesel offered, or round RM1.5 billion ringgit in complete.
He mentioned that based on consumption information, subsidised diesel gross sales in Malaysian have elevated by as much as 40% since 2019, whereas the variety of autos utilizing diesel solely elevated by lower than 3%, resulting in the opportunity of critical smuggling actions as a result of low value of diesel within the nation.
No timeframe was talked about as to when the focused subsidy could be launched, however the authorities has beforehand acknowledged that it will begin doing so with diesel, and it will accomplish that subsequent yr.
With non-public diesel customers anticipated to pay as much as RM3.75 per litre for unsubsidised diesel, the times of pickup vehicles being life-style autos (as evident by mannequin launches such because the Ford Ranger Raptor Diesel and Toyota Hilux GR Sport) would possibly simply be over, with homeowners prone to shift over to petrol SUVs as an alternative.
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