Tuesday, January 12, 2010

No more subsidized fuel for non-Malaysians from May 1

www.chinaview.cn 2010-01-07 21:03:08

KUALA LUMPUR, Jan. 7 (Xinhua) -- From May 1, non-Malaysians will no longer be eligible for subsidized petrol, a Malaysian official announced near here on Thursday.

Currently, everyone including foreigners enjoyed the subsidized petrol but this would not be the case anymore when a new mechanism was put in place, Malaysian Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob said.

Ismail told a press conference that under the new fuel subsidy structure, My-kad, the identity card of Malaysians, might have to be used to purchase petrol in order to ensure that only qualified consumers were entitled to subsidized fuel.

While the foreigners could no longer purchase subsidized petrol in Malaysia, Ismail said that Malaysians would also be grouped into different categories based on their vehicles' engine capacity so that only the targeted consumers enjoyed the Malaysian government's subsidy.

He said that the Malaysian government currently subsidized 30 sen (8.8 U.S. cents) a liter for the RON 95 petrol, allowing the commodity to be sold at 1.80 (53 U.S. cents) a liter in the market, adding that disqualified consumers would have to pay the market price or more in future.

RON, or the Research Octane Number, is a measure of how resistant gasoline is to premature detonation, or knocking. The higher the number is, the stronger the resistance is.

Ismail also said that other elements such as the socio-economic factors would also be taken into account when determining the petrol buying prices.

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