Tag: diesel

BUDI Diesel Expected To Reduce Leakages, Ensure Targeted Distribution To Elegible Groups

KUALA LUMPUR, July 3 -- The implementation of the BUDI MADANI Diesel (BUDI Diesel) initiative, which provides diesel at RM2.10 per litre through the MyKad verification mechanism from July 1, is expected to reduce subsidy leakages while ensuring government assistance reaches those who genuinely need it. Putra Business School (PBS) economic analyst Associate Professor Dr Ahmed Razman Abdul Latiff said a targeted subsidy mechanism is more sustainable than blanket subsidies as it enables the government to channel assistance more accurately to eligible groups. “Through the targeted price subsidy approach, those who depend on diesel for work or business, including operators of diesel-powered machinery and equipment, can directly benefit from lower operating costs,” he told Bernama. He explained that targeted fuel subsidies serve a different purpose from direct cash assistance. While cash aid provides households with greater flexibility in managing daily expenses, fuel subsidies help contain production, logistics and transportation costs. However, Ahmed Razman said the success of the BUDI Diesel initiative depends on the accuracy of recipient data and the technological capacity to support the distribution system, particularly in rural areas with limited internet connectivity. “The key challenge is ensuring that the database of eligible recipients is continuously updated to avoid complaints from those who may be left out. A transparent and efficient feedback and appeal mechanism is also essential because the effectiveness of the BUDI Diesel programme depends on accurate data,” he said. He added that targeted subsidies could also ease the government's fiscal burden by limiting benefits to eligible recipients and preventing higher-income groups and foreign nationals from enjoying subsidised fuel. “The savings generated can be redirected to high-impact sectors such as education, healthcare, public transport and infrastructure. The success of this approach can be measured through controlled inflation and a more manageable cost of living,” he said. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid described the use of MyKad as the primary verification mechanism for subsidy distribution as a systematic and proven approach. We have already seen this mechanism successfully implemented for RON95 fuel. Applying the same approach to diesel is expected to generate savings of about RM2 billion while ensuring the subsidy is distributed in a more targeted and efficient manner,” he said. He said efforts to curb fuel smuggling and subsidy abuse would enable the government to manage subsidy expenditure more effectively and sustainably. “If fuel prices remain stable and the economy continues to grow, the government could eventually consider distributing subsidies based on income levels, further reducing future fuel subsidy expenditure,” he said. Mohd Afzanizam also stressed that fuel subsidies should be viewed as a temporary measure and called for the transition to electric vehicles (EVs) to be accelerated as part of Malaysia's green mobility agenda. “The shift to EVs must continue. To support this transition, charging infrastructure needs to be expanded and fast-charging technology further developed to address range anxiety,” he said. Meanwhile, the Muslim Consumers Association of Malaysia (PPIM) urged the Ministry of Domestic Trade and Cost of Living (KPDN) to strengthen enforcement to prevent traders from exploiting the implementation of the BUDI Diesel initiative by imposing unjustified price increases. Its chief activist, Datuk Nadzim Johan, said changes in fuel prices often trigger a chain reaction that drives up the prices of goods and services, ultimately burdening consumers. “When diesel prices increase, the prices of many other goods tend to rise as well. Once prices go up, they rarely come down. Therefore, strict enforcement is essential to prevent irresponsible parties from taking advantage of the situation,” he said. He also encouraged consumers to act as the government's eyes and ears by reporting unreasonable price increases, accompanied by supporting evidence such as purchase receipts and location. Besides monitoring prices, Nadzim urged the government to tighten controls on imported products to protect local producers and introduce policies to reduce food waste, including promoting the use of retort packaging technology to strengthen the country's food security. -- BERNAMA 

KUALA LUMPUR, July 3 — The implementation of the BUDI MADANI Diesel (BUDI Diesel) initiative, which provides diesel at RM2.10 per litre through the MyKad verification mechanism from July 1, is expected to reduce subsidy leakages while ensuring government assistance reaches those who genuinely need it. Putra Business School (PBS) economic analyst Associate Professor Dr […]

Diesel Price Reduced To RM2.10 Per Litre, RM1 ATM Withdrawal Fee Abolished Effective Today

KUALA LUMPUR, July 1 — Malaysians will enjoy lower fuel costs and cheaper banking services from today following the implementation of two key measures announced by the government. The retail price of diesel has been reduced to RM2.10 per litre, providing relief to consumers and businesses that rely on diesel-powered vehicles for daily operations. In a separate development, the RM1 fee for cash withdrawals at automated teller machines (ATMs) has been abolished, allowing customers to make ATM withdrawals without the additional charge. The two initiatives are expected to help ease the cost of living by reducing transportation and banking expenses for the public. Further details on the implementation and eligibility for the diesel pricing mechanism are expected to be announced by the relevant authorities. -- MINUTESMY

KUALA LUMPUR, July 1 — Malaysians will enjoy lower fuel costs and cheaper banking services from today following the implementation of two key measures announced by the government. The retail price of diesel has been reduced to RM2.10 per litre, providing relief to consumers and businesses that rely on diesel-powered vehicles for daily operations. In […]

BUDI MADANI receives more than 18,000 applications for additional diesel quotas

PETALING JAYA: The official BUDI MADANI portal has received more than 18,000 applications for an additional 100 litres of subsidised diesel quota per month from eligible owners of diesel pickup and jeep vehicles as of 10pm last night. Finance Minister II, Datuk Seri Amir Hamzah Azizan said that the initial implementation of BUDI MADANI Diesel (BUDI Diesel), which entered its second day, went smoothly without any technical problems. He said that so far, more than 40,000 transactions have been recorded involving users who have taken advantage of the initiative since it was implemented on Saturday. He said this to reporters after reviewing the initial implementation of BUDI Diesel at the Petronas NKVE Petrol Station towards Damansara. Also present was the Secretary-General of the Treasury, Tan Sri Johan Mahmood Merican. Amir Hamzah said that applications for additional quotas can be made online through the official BUDI MADANI portal, while individuals who need assistance can seek the services of officers at the Inland Revenue Board (IRB) offices, the Urban Transformation Centre (UTC) as well as counters provided by several oil companies. He said the government also provides facilities to transfer subsidy quotas to actual users if the registered owner of the vehicle is different from the individual using the vehicle. "For quota transfers, it can be applied for through the same portal. We will ensure that the quota is transferred to the actual user," he said. According to him, after the transfer is made, verification at the petrol station will be carried out through the user's identity card number linked to the quota in question. "The quota will be assigned to the new user's identity card number. So when used at a petrol station, the system will identify that the quota has been transferred." "However, the total quota remains based on vehicles and it can only be used by designated individuals," he said. He said that so far, no technical issues have been reported involving the system or petrol station operators, while the government will continue to focus on ensuring that the implementation of the initiative runs smoothly by July 1. The initial implementation of BUDI Diesel began on Saturday in the Peninsular Malaysia with consumers enjoying subsidized diesel at a price of RM2.15 per litre for a flexible quota of up to 200 litres, before the rate is adjusted to RM2.10 per litre starting this Wednesday. -- BERRNAMA

PETALING JAYA: The official BUDI MADANI portal has received more than 18,000 applications for an additional 100 litres of subsidised diesel quota per month from eligible owners of diesel pickup and jeep vehicles as of 10pm last night. Finance Minister II, Datuk Seri Amir Hamzah Azizan said that the initial implementation of BUDI MADANI Diesel […]

PDRM Deploys Over 300 Personnel To Curb Diesel Smuggling Along Borders – IGP

PDRM Deploys Over 300 Personnel To Curb Diesel Smuggling Along Borders - IGP

KUALA LUMPUR, June 23 — The Royal Malaysia Police (PDRM) has deployed over 300 personnel to border-area petrol stations to proactively prevent diesel smuggling and misuse. ​Inspector-General of Police (IGP) Tan Sri Mohd Khalid Ismail said this follows the government’s announcement of a new subsidised diesel price for locals, set at RM2.10 per litre from […]

Diesel price reduction directly benefits the people – Mustapha

KOTA KINABALU, JUNE 22 -- The announcement of a reduction in the price of subsidized diesel to RM2.10 per litre starting this July proves that the economic reforms and subsidy targeting measures implemented by the MADANI government are starting to provide direct benefits to the people. Minister in the Prime Minister's Department (Sabah and Sarawak) Datuk Mustapha Sakmud said the implementation of a targeted subsidy mechanism through the use of MyKad would not only ensure that subsidies reached eligible Malaysians, but would also help reduce leakage and smuggling, which had long affected the effectiveness of the country's subsidy system. "This step is also being implemented at a time when the world is still facing geopolitical uncertainty and pressure on the global energy market. "The ongoing conflict in West Asia demands that the country take a more strategic approach in ensuring energy security and economic stability," he said in a statement here today. Mustapha said Malaysia's move to strengthen energy cooperation with countries such as Russia and Turkmenistan, in addition to ensuring supply security through strategic relationships with major energy producing countries, proved the MADANI Government's determination in strengthening the country's energy security and ensuring long-term sustainability of supply. He said the drop in diesel prices reflected the effectiveness of foreign policy as well as the efficiency of Prime Minister Datuk Seri Anwar Ibrahim's administration in managing the economy prudently, with the implementation of various reforms successfully helping to control the cost of living pressures faced by the people. Yesterday, Anwar announced the reduction in the price of subsidized diesel for Malaysians to RM2.10 per litre starting in July and will be implemented in line with the approach used through the BUDI MADANI RON95 (BUDI95) program, namely with verification via MyKad. Currently, diesel is still sold at a subsidized retail price of RM2.15 per litre at all petrol stations in Sabah and Sarawak, compared to the unsubsidized retail price of RM4.37 per litre in the Peninsula. -- BERNAMA

KOTA KINABALU, JUNE 22 — The announcement of a reduction in the price of subsidized diesel to RM2.10 per litre starting this July proves that the economic reforms and subsidy targeting measures implemented by the MADANI government are starting to provide direct benefits to the people. Minister in the Prime Minister’s Department (Sabah and Sarawak) […]

Sarawak GOF Seizes Over 342,000 Litres of Subsidised Diesel

KUCHING, May 27 -- The General Operations Force (GOF) Sarawak Brigade siezed over 342,000 litres worth about RM1.8 million under Op Tiris conducted at several locations in Sarawak since March 16 until yesterday. Its commander, SAC Lim Bak Phai said that various assets and equipment, including tanker lorries, heavy machinery and skid tanks worth almost RM17.5 million were also seized. “The brigade recorded 58 cases with 69 arrests during the operation, and one of its major success was the seizure of a tug boat in Bintulu that was used to store 20,000 litres of diesel without a valid permit,” he said in a statement today. The operation also recorded seizures of over 5 tons of subsidised cooking oil worth almost RM40,000 and over 7 tons of coarse sugar worth over RM31,000 with an overall seizure value of RM950,000. “The operation also managed to track down various modus operandi used by syndicates including storing, transfer and distribution of diesel without permits believed to involve a network of misappropriation of controled items in the state,” he said in a statement today. All suspects arrested and seizures have been handed over to the Domestic Trade and Cost of Living Ministry for further action and investigation under Section 21 of the Control of Supplies Act 1961. -- BERNAMA

KUCHING, May 27 — The General Operations Force (GOF) Sarawak Brigade siezed over 342,000 litres worth about RM1.8 million under Op Tiris conducted at several locations in Sarawak since March 16 until yesterday. Its commander, SAC Lim Bak Phai said that various assets and equipment, including tanker lorries, heavy machinery and skid tanks worth almost […]

Retail Prices Of Petrol, Diesel To Drop From Tomorrow Until June 3

KUALA LUMPUR, May 27 -- The retail prices of RON95 and RON97 petrol have been reduced by 15 sen and 20 sen per litre respectively, while the price of diesel in Peninsular Malaysia has been reduced by 10 sen per litre for the period from May 28 to June 3. The Ministry of Finance (MOF) in a statement today announced that the retail price of RON95 petrol has been reduced to RM3.92 per litre from RM4.07, RON97 to RM4.65 from RM4.85, while diesel in Peninsular Malaysia has been reduced to RM4.87 from RM4.97. According to the ministry, in line with the Automatic Price Mechanism (APM) formula, the retail prices of petrol and diesel for the week in question were reduced following the decline in the average international market price in the previous week. “However, this decline does not indicate that the pressure on the global petroleum market has subsided as market uncertainty following the conflict in the Middle East that has lasted for more than 12 weeks still persists. “In addition, the damage to oil production and refining facilities in the Middle East will require a long period of time to recover,” the statement said. Meanwhile, MOF said the MADANI Government continues to maintain the price of subsidised petroleum products in a targeted manner to preserve the livelihood of the people and the operations of certain sectors in the uncertain global market conditions. The subsidised prices maintained are RON95 through BUDI95 at RM1.99 per liter, diesel in Sabah, Sarawak and Labuan (RM2.15), while for the Subsidised Petrol Control System (SKPS) and the Subsidised Diesel Control System (SKDS) at RM2.05 and RM2.15 per litre respectively. According to MOF through BUDI95, the government continues to maintain the subsidised RON95 price for more than 14 million eligible recipients, with more than 90 per cent of the total fuel consumption in the country involving subsidy recipients. “At the current unsubsidised RON95 price of RM3.92 per litre, the consumption of 200 litres will cost RM784. This means that the MADANI Government will bear RM386 for each recipient who uses the full BUDI95 entitlement. “Through the monthly eligibility ceiling of up to 200 litres, BUDI95 recipients will only pay up to RM398 per month for the full use of the entitlement,” the statement said. MOF said to balance the cost of living and fiscal expenditure needs prudently, the government will continue to take a targeted approach to protect the people from fuel price fluctuations, in addition to ensuring that the country’s supply remains sufficient and secure. Meanwhile, the government calls on the people to practise fuel consumption prudently through more efficient travel planning and reducing unnecessary travel to help ensure that the country’s supply continues to be secure in the current uncertain global market conditions. -- BERNAMA

KUALA LUMPUR, May 27 — The retail prices of RON95 and RON97 petrol have been reduced by 15 sen and 20 sen per litre respectively, while the price of diesel in Peninsular Malaysia has been reduced by 10 sen per litre for the period from May 28 to June 3. The Ministry of Finance (MOF) […]

Diesel Fleet Card Proposal For 17,000 Agri-Providers To Go To MTEN

PUTRAJAYA, May 25 -- The government will table a proposal at the National Economic Action Council (MTEN) to extend the subsidised diesel fleet card system to 17,000 agricultural machinery service providers in a bid to lower paddy cultivation costs. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the proposed initiative involves an allocation of about RM200 million. He said the proposal covers agricultural machinery operators, including those providing tractor, harvester, and fertiliser spreader services, who play an essential role in the country’s paddy cultivation chain. "The majority of paddy farmers rely on these agricultural service providers. Therefore, this matter will be brought to MTEN," he told reporters after launching the Kebuniti Agriculture Information Centre, known as Gardentopia, here today. Mohamad said the move was proposed following an increase in operational costs, particularly diesel costs, which affected machinery service providers and, indirectly, burdened paddy farmers. Malaysian Farmers' Brotherhood Organisation (PeSAWAH) chairman Abdul Rashid Yob reportedly said that paddy farmers are currently struggling with rising operational costs, which have dampened their motivation to continue cultivation. -- BERNAMA

PUTRAJAYA, May 25 — The government will table a proposal at the National Economic Action Council (MTEN) to extend the subsidised diesel fleet card system to 17,000 agricultural machinery service providers in a bid to lower paddy cultivation costs. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the proposed initiative involves an allocation […]

No New T20 Classification Under Discussion, Focus On BUDI Diesel — Amir Hamzah

BALIK PULAU, May 18– The government has not discussed any proposal to introduce a new classification for the top 20 per cent income group (T20), Finance Minister II Datuk Seri Amir Hamzah Azizan said. He said the government is instead focused on improving the existing BUDI Diesel initiative, which he described as comprehensive and fair […]