We might have to present our MyKad (Identity Card or IC) at petrol stations in Malaysia before fuelling up soon. This identification system is among the many proposed solutions currently under discussion to perform targeted subsidies for RON95 petrol that may come into place from mid-2025, as announced by the prime minister Anwar Ibrahim on Friday.
When implemented, 85% of Malaysians will proceed to enjoy RON95 fuel at its subsidised price of RM2.05 per litre, while the T15 (top 15% earners), described by the PM because the maha kaya or super wealthy, may have to pay more. Presently, unsubsidised RON95 is priced at RM2.76 per litre.
How precisely the pump prices can be set stays in query. One solution is for us to make use of our MyKad before fuelling up, in line with transport minister Anthony Loke.
“This implies there can be two pricing mechanisms — one for eligible Malaysians, and one other for the T15 and foreigners. Nonetheless, that is only a proposal, and more details can be announced by the Finance Ministry in the approaching months,” Loke was quoted as saying by The Edge.
The thought of using the MyKad to set the pump price (whether one should receive the fuel subsidy or not) shouldn’t be exactly latest. Back in 2014, then-deputy finance minister Datuk Ahmad Maslan announced that an identical concept was within the works for the petrol subsidy rationalisation programme.
Back then, the plan was to have three separate tiers of RON95 pricing. Those earning below RM5,000 monthly will receive full subsidy, while those earning between RM5,000 and RM10,000 will get partial subsidy. No subsidised fuel for those earning over RM10,000 monthly.
For 2025, with the excellence set to a comparatively arbitrary T15 classification, we may have to attend and see what the actual income threshold can be set at (to find out should you’re eligible to enjoy petrol subsidies or not).
So dear Malaysians, what do you’re thinking that of this MyKad idea, and the way much should the income threshold be set at? Discuss below.
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This Article First Appeared At paultan.org
