PUTRAJAYA (Oct 11): The Government has decided to include the M40 income group under the Petroleum Subsidy Programme (PSP) in Budget 2020, as opposed to only recipients of the Cost of Living Aid (BSH) announced previously.
The aid will now be enjoyed by those in the M40 category who own no more than two cars and two motorcycles.
Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said the vehicles owned must comply with the prescribed criteria, namely cars being 1600cc and below, or cars above 1600cc which are 10 years old and above, and/or motorcycles 150cc and below, or motorcycles over 150cc which are seven years old and above.
"Following the announcement of the PSP on Monday, the Ministry received a lot of feedback from the people, and among the most popular feedback was the call to include those in the M40 group as eligible to receive petrol subsidies," he said in a statement here today.
He said for BSH recipients, the eligibility criteria would still remain as announced earlier, which was owning a maximum of two cars and two motorcycles within the specified engine capacity range.
"I would like to thank the announcement of Budget 2020 which has been considerate and responsive to the people's suggestions. The Government will continue to work with all parties to ensure that the implementation of the Petroleum Subsidy Programme runs smoothly and in accordance with the objectives set by the government," he said.
Finance Minister Lim Guan Eng when tabling Budget 2020 at the Dewan Rakyat today said that the PSP was aimed at being launched in Peninsular Malaysia in January 2020, with two qualifying categories.
Each BSH recipient will be entitled to a subsidy of up to RM30 per month for a car or RM12 per month, for a motorcycle, while the second category comprises other eligible drivers who are non-BSH recipients, and are set to receive a ‘Kad95’ which would allow them to enjoy a 30sen per litre petrol subsidy, limited to 100 litres per month for cars, or 40 litres per month for motorcycles.
The PSP announced on Monday only catered to about 2.9 million BSH recipients in Peninsular Malaysia, but the latest announcement in Budget 2020 today is set to benefit around eight million drivers.