Which ministries are involved in finalising the petrol subsidy?

Question

Accepted Answer

Ministries Involved in Finalising Petrol Subsidy

The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) and the Ministry of Finance are collaborating to finalise the implementation of the targeted petrol subsidy. KPDNHEP is actively engaged in discussions with various stakeholders to determine the most effective mechanism for this initiative.
KPDNHEP's Role in Stakeholder Engagement

The Ministry of Domestic Trade and Consumer Affairs has conducted numerous meetings with key stakeholders to develop the targeted petrol subsidy system. These consultations, held from January to June, included oil companies, petrol station operators, consumer associations, Bank Negara, the Customs Department, and the Road Transport Department. The objective of these engagements was to identify the optimal approach for implementing the subsidy.
Preparation of Cabinet Paper

A crucial step in the finalisation process involves the preparation of a Cabinet paper, which is a joint effort between KPDNHEP and the Ministry of Finance. This paper will contain detailed plans and mechanisms for the targeted petrol subsidy system, including projected timelines and the anticipated number of recipients.
Optimism for Implementation This Year

Despite not meeting the initial target of implementation in the second quarter of this year, as outlined in the 2019 Budget, there is optimism that the targeted petrol subsidy can be rolled out within the current year. The presentation of the Cabinet paper to the government is anticipated for July, following which an official announcement is expected.
Current Petrol Consumption and Subsidy

Malaysians currently consume approximately 1.2 billion litres of petrol monthly, with RON95, which is subsidised, accounting for 90 per cent of this volume. In February, the government implemented a price cap for RON95 petrol at RM2.08 per litre for all consumers, irrespective of global petrol price fluctuations.

Reading history

Hide →

This history is cleared when the page is closed.

Which ministries are involved in finalising the petrol subsidy?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends