KUALA LUMPUR: Finance Minister Lim Guan Eng, during the tabling of Budget 2020 in the Dewan Rakyat today, outlined the criteria for the Targeted Fuel Subsidy and also announced that there will be an 18% reduction in toll rates.
During the tabling, Lim outlined the eligibility criteria for the Targeted Fuel Subsidy.
Individuals who own not more than two cars and two motorcycles are eligible to receive fuel under the Targeted Subsidy Programme (PSP) for one vehicle.
The qualifying criteria for the vehicle are:
> A passenger car with 1,600cc engine capacity and below; or
> Any car above 1,600cc must be more than 10 years old; or
> Whereas, a qualified motorcycle must be 150cc and below; or
> Any motorcycles above 150cc must be more than seven years old.
PSP will be launched in Peninsular Malaysia starting January 2020, with two eligible categories:
FIRST: For eligible recipients of the BSH, the petrol subsidy receivable will be RM30 per month for car owners and RM12 per month for motorcycle owners. This subsidy will be in the form of cash transfer, deposited into the recipient’s bank account every 4 months. The first payment will be made in April 2020 for the period January to April 2020; and
SECOND: For all other motorists who are not BSH recipients, they will receive a special Kad95 which allows them to enjoy the fuel subsidy at a discount of 30 sen per litre limited to 100 litres per month for cars or 40 litres per month for motorcycles when purchasing RON95 at the petrol station. The Kad95 will be implemented progressively during the first quarter of 2020.
On tolls, Lim said there would be a minimum reduction of average toll charges by an 18% discount across all Plus highways.
he discount on toll charges for the North-South Highway will save highway users up to RM1.13bil in 2020, and RM43bil over the entire concession period until 2038.
Also, the Second Penang bridge toll will be reduced from RM8.50 to RM7.
Budget 2020 is the second federal budget tabled by the Pakatan Harapan government since taking Putrajaya in the 14th general election in May last year.
