Following the targeted RON95 petrol subsidy BUDI95 rollout, the government said that it will announce a revised rate for the Automatic Pricing Mechanism (APM) soon. This is to ensure the continued viability of petrol stations, according to a report by Bernama.
The report cites the Minister of Domestic Trade and Cost of Living (KPDN), Armizan Mohd Ali, as saying that a proposal to review the rate has been submitted to the Ministry of Finance (MoF). This is following engagement sessions with petrol companies and stations associates.
Armizan adds “we are aiming to execute the Subsidised Petrol Control Scheme (SKPS) as soon as possible, ideally within a month of the targeted subsidy’s launch”. He also says that “the government had previously committed to reviewing the APM rate and addressing other long-standing industry concerns”.
On another note, Armizan also says that KPDN will take stern action against public transport companies that get their employees to use their personal subsidy quota for the company. “Companies should not exploit this system, as they already receive a subsidised rate of RM2.05, which is already significantly below the market price”, he said. This is following circulated messages to that effect, to the extent of using the MyKad of family members.
(Source: Bernama)
