KUALA LUMPUR (Dec 30): The government is postponing the implementation of the targeted fuel subsidy programme, which was slated to begin in January 2020.
In a statement today, Minister of Domestic Trade and Consumer Affairs Datuk Seri Saifuddin Nasution Ismail (pictured) said the decision to defer the Petrol Subsidy Programme (PSP) until further notice, was made in a Cabinet meeting on Dec 18.
Saifuddin said prior to the PSP implementation, fuel prices will continue to be based on the existing petrol price mechanism.
He said this decision was to ensure there is sufficient time to hold briefings and explanation sessions to prepare consumers for the PSP implementation.
Saifuddin said the postponement was also to provide more time for the finance ministry to register the members of the M40 group that are entitled to receive subsidised fuel.
Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.
Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.