logo
[UPDATED] Govt fine-tuning RON95 subsidy rollout, timeline pushed back

[UPDATED] Govt fine-tuning RON95 subsidy rollout, timeline pushed back

New Straits Times17 hours ago
KUALA LUMPUR: The rollout of the targeted RON95 subsidy has been slightly delayed as the government continues to refine its implementation mechanism to avoid any negative impact to the public.
Communications Minister Datuk Fahmi Fadzil said Prime Minister Datuk Seri Anwar Ibrahim had made it clear that any policies implemented must not hurt the majority of the people.
He said this scrutiny had resulted in a slight delay in the announcement timeline.
"Following the implementation of several previous policies, including the targeted diesel subsidy and other initiatives, we need to closely examine the delivery mechanism to avoid any negative impact.
"The expanding scope of the Sales and Services Tax (SST) also went through several adjustments after careful study. The same approach is being applied to policies yet to be implemented, including the targeted subsidies for RON95," he said during his weekly press conference at the Parliament building today.
Fahmi said the prime minister had also touched on the matter during a recent retreat with members of parliament in Port Dickson, and had stressed that any measures must not adversely affect the people.
On June 16, Anwar said the government would proceed with the RON95 fuel subsidy rationalisation, as it is crucial for the country.
Anwar, who is also the finance minister, said there was no issue of a RON95 price increase affecting the majority of Malaysians.
On June 26, Finance Minister II Datuk Seri Amir Hamzah Azizan said the government would move ahead with its plan to implement targeted subsidies for RON95 petrol this year. However, the rollout would be done in phases to ensure the most effective and least disruptive mechanism is adopted.
He said the aim is to strike a careful balance between delivering fiscal reforms while safeguarding the welfare of the rakyat.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

86% And Counting, PM Slams Claims Of ‘No Results'
86% And Counting, PM Slams Claims Of ‘No Results'

BusinessToday

time5 hours ago

  • BusinessToday

86% And Counting, PM Slams Claims Of ‘No Results'

Credits to PMO FB Prime Minister Datuk Seri Anwar Ibrahim has dismissed claims that multibillion-ringgit investments bring no tangible results, stating that the manufacturing sector continues to deliver direct benefits to Malaysians through job creation, wage increases and industrial value-add. 'They say billions in investments, where are the results? There's nothing to show. The reality is, 86% of the approved projects are already operational,' he said. He revealed that 3,494 manufacturing projects have been approved by the Malaysian Investment Development Authority (MIDA) from 2021 until June 2025. Of these, 3,095 projects or 86.4%, have been realised and are now operational. Speaking at the monthly assembly of the Prime Minister's Department, Anwar noted that the implementation rate of approved projects stood at 90.6% in 2023, 79.2% in 2024 and 49.8% in the first quarter of 2025. 'I've told Minister Tengku Zafrul to continue publishing the relevant data and highlight the locations of operating plants — in Kulim, Johor, Sarawak, Sabah and the Klang Valley,' he added. He said most of the realised projects focus on digital and green industries. In the first quarter of this year alone, these projects have created 50,000 new jobs in the manufacturing sector. Median wages in the sector also rose by 5.4% to RM2,745, up from RM2,600 last year, aligning with the new minimum wage policy of RM1,700. Anwar also reported that since the establishment of the Invest Malaysia Facilitation Centre (IMFC) in December 2023, a total of 28,166 investor applications have been facilitated with a resolution rate of 99.9%. These applications involved matters such as approvals, permits, foreign worker quotas, utilities and tax-related issues. Related

Anwar: Fiscal Discipline Is Working, New Debt Down To RM77 Billion
Anwar: Fiscal Discipline Is Working, New Debt Down To RM77 Billion

BusinessToday

time6 hours ago

  • BusinessToday

Anwar: Fiscal Discipline Is Working, New Debt Down To RM77 Billion

Credits to PMO FB Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim reaffirmed that his administration has successfully reduced the country's annual new debt to RM77 billion in 2024, a significant drop from RM99 billion in 2022, signalling stronger fiscal prudence. Speaking at the monthly gathering of the Prime Minister's Department in Putrajaya today, he clarified that only the interest payments on legacy debt remain burdensome. 'The new debt taken by the government was RM99 billion in 2022, reduced to RM93 billion in 2023, and in 2024, the total is RM77 billion… that's a reduction,' he said. Criticising misleading claims circulating publicly, Anwar pointed out that some parties continue to accuse the government of increasing debt, despite the data. 'They say the overall debt is higher, including legacy debt and interest payments, but I've stated clearly that the government pledged to reduce new debt, and we've delivered. 'However, what's being spread around suggests that we're increasing the debt, as if we're deceiving the people. If you look at these figures, who's really lying?' he asked. He also underscored that this debt reduction aligns with efforts to narrow the country's fiscal deficit. The government aims to bring the deficit down to 3.8% in 2025 from 4.1% this year and 5.5% in 2022. Anwar explained that the government opted for a gradual reduction approach to avoid disrupting development and market confidence. 'We took over in 2022, and at the time, the fiscal deficit was 5.5%. What is a deficit? It means spending exceeds the country's revenue, which means we are borrowing,' he said. 'We manage the national economy like a household. If your income is RM5,000 but you spend RM7,000, that's a deficit. So now we're reducing expenses to RM6,500, RM6,000, RM5,500, but if we cut too fast, development would stall.' The Prime Minister also credited the civil service's efforts, highlighting Malaysia's 11-spot jump in the IMD World Competitiveness Ranking 2025 to 23rd place, up from 34th last year, the country's best showing since 2020. The rise, announced by the Ministry of Investment, Trade and Industry (MITI) in June, was attributed to improvements in economic performance and government efficiency. He further noted that the International Monetary Fund (IMF), in its Article IV Mission report for 2025, commended Malaysia's fiscal reform agenda, particularly the introduction of the Public Finance and Fiscal Responsibility Act (FRA). 'What does that mean? It means the Finance Minister has handed over part of his powers to Parliament to assess if targets are not being met. That's what we've done,' he said. Related

Asean News Headlines at 10pm on Monday (July 21, 2025)
Asean News Headlines at 10pm on Monday (July 21, 2025)

The Star

time6 hours ago

  • The Star

Asean News Headlines at 10pm on Monday (July 21, 2025)

Malaysia: * Dewan Rakyat passes the Consumer Credit Bill * Court of Appeal grants stay for PM Anwar in civil suit proceedings * Nine areas record unhealthy API as of 3pm, July 21 * Wisma Putra yet to receive nomination of Nick Adams as US ambassador to Malaysia * Do not cross the 'red line', Anwar warns foreign powers including US * Trial for Chinese national who allegedly stabbed ex-girlfriend on uni campus * Bring it on, Anwar dares opposition to table no-confidence vote * Raid on Subang Jaya private party nets four suspected drug dealers * MACC to call up 20 more witnesses in RM180mil data centre probe * Penang Development Corp cooperating with police in MBI probe * A-G calls for overhaul of govt's Pre-Qualification procurement process * MACC seizes over RM332mil in assets in major scrap metal smuggling probe * Auditor-General's Report: Three UKM tenders worth over RM50mil did not follow SOP * Rise in 'buy now, pay later' accounts puts vulnerable consumers at risk, says Finance Ministry * Defence white paper mid-term review to be presented to select committee soon, says Mohamed Khaled * Wan Ahmad Farid was sole candidate for Chief Justice, no last minute changes made, says Anwar Water Polo - World Aquatics Championships - Women - Semi Final - Hungary v Spain - OCBC Aquatic Centre, Singapore - Monday, July 21, 2025; Hungary's Vanda Valyi scores a penalty goal. -- Photo: REUTERS/Edgar Su Singapore: * Singapore: Jail, caning for man who held metal rod to cashier's neck in failed robbery attempt * Singapore-Malaysia joint emergency exercise to affect the Tuas second link traffic on July 23 * Early morning bus driver strike causes disruption at Johor-Singapore Causeway * Singapore's Chiral Comics partners Archie Comics for exclusive SG60 book cover * Singapore military helps battle cyberattack:, says minister * Witness stand not arena for humiliation in sex offence cases, Singapore judge reminds lawyers * More stingrays, fewer sharks for sale at Singapore's fishery ports, say researchers * Singapore central bank to place S$1.1bil with asset managers to boost stock market Indonesia: * AFF U-23: 1,620 strong security deployment for heated Indonesia-Malaysia football clash in Jakarta * FIFA maintaining regional office in KL, not moving to Jakarta * Indonesia's Prabowo rolls out first of 80,000 'Red-White' cooperatives to boost economic growth * Indonesian exporters seek to split tariffs with US buyers to ensure demand * Asia shares, yen look past Japan politics as earnings loom * Oil prices little changed as investors eye impact of new sanctions on Russia Artistic Swimming - World Aquatics Championships - Team Technical - World Aquatics Championships Arena, Singapore - Monday, July 21, 2025; Team Thailand performs during preliminaries. -- Photo: REUTERS/Marko DjuricaTPX IMAGES OF THE DAY Thailand: * Thai police uncover two Chinese-led online fraud rings in latest blitz against scammers * Extreme heat waves spark climate emergencies worldwide * Thailand claims Cambodia planted land mines, escalating dispute * Thai land mine claims rejected by Cambodia in escalating dispute * Survey finds Thai public blames monks' misconduct for Buddhism's decline * Thailand's condo market plummets to 16-year low Philippines: * Typhoon Wipha: Philippine govt suspends work and school classes in Metro Manila and other provinces * Philippines' Marcos to meet Trump, hoping to secure trade deal that is favourable to both allied countries * A legend returns - Pacquiao is latest boxer to risk legacy for lure of the ring * Radio journalist killed in southern Philippines * Marcos goal: A trade deal unique to US-Philippine ties * Philippines suspends government work, classes due to heavy rains A man holding an umbrella walks near docked tourist boats, as Typhoon Wipha approaches, at Halong Bay, Quang Ninh province, Vietnam, on Monday, July 21, 2025. -- Photo: REUTERS/Thinh Nguyen Vietnam: * Boy's body recovered by rescuers, death toll in Vietnam's Ha Long boat tragedy hits 36 * "It took only a few seconds": survivors recount how a sudden storm drowned dozens in Vietnam * Storm Wipha nears northern Vietnam with heavy rain, strong winds and flood risk * Vietnam, China plan first joint army drill amid US tariffs * Vietnam: Survivor lives to tell his escape from capsized tour boat Myanmar: * Comment: A cautionary tale for Asean from the Middle East * Yet another jade mine collapse in northern Myanmar, two people dead and 20 others trapped inside * Series of aftershocks rattle Mandalay, including 5.5-magnitude tremor * Fire sparked by charging Bluetooth speaker destroys eight homes in central Myanmar A trishaw driver rides as his passenger uses an umbrella to cover themselves from the rain in Yangon on Monday, July 21, 2025. -- Photo by Sai Aung MAIN / AFP Cambodia: * Hun Sen calls Thaksin out, reveals historic role in Thai politics * Landmine dispute escalates tensions between Thailand and Cambodia * Asean disaster simulation exercise begins amid Typhoon Wipha * Cambodia arrests 2,767 online scam suspects Laos: * Typhoon Wipha rips through Laos, Vietnam, and the Philippines, damaging homes and infrastructure * Laos on alert as Typhoon Wipha brings torrential rain * Laos to renegotiate power purchase deals in bid to cut bills for home-owners Brunei: * Brunei royalty graces Girl Guides ceremony * Brunei Chinese chamber of commerce holds event on traditional Chinese medicine * 35 arrested in major anti-drug operation in Brunei Artistic Swimming - World Aquatics Championships - Women's Duet Technical Final - World Aquatics Championships Arena, Singapore - Monday, July 21, 2025; Gold medallists Austria's Anna-Maria Alexandri and Eirini-Marina Alexandri pose during the women's duet technical final medal ceremony with silver medallists China's Yanhan Lin and Yanjun Lin and bronze medallists Neutral Athletes B's Mayya Doroshko and Tatiana Gayday. -- Photo: REUTERS/Hollie Adams AseanPlus: * K-pop superstar G-Dragon declares Malaysia 'mantap (superb)' at his two-day sold-out concerts in Bukit Jalil * Malaysia sets sights on regional AI leadership with 2026-2030 action plan, says Gobind * Malaysia, Asean to propose reforming UN veto power of five countries * First day of Dewan Rakyat focuses on post-Asean foreign policy, cost of haj * Sarawak to kick off reforms to make business registrations quicker, easier, Dr Sim announces * 'Musang King is too delicious': HK actor Louis Fan ate 7 durians during 3-day stay in Malaysia * Evidence shows Jeju Air pilots shut off less-damaged engine before crash, source says * Torrential rain leaves at least 18 dead in South Korea, trail of devastation * Disney sues Hong Kong company it says is selling illegal Mickey Mouse jewellery * China stops US commerce employee from leaving, reports say * Can a superalloy method fix aircraft engine woes, even for sixth-gen fighters? * As Trump flip-flops on US academia, China's brightest head back home. Here's why * Asian investors trim US assets amid weak dollar, but full pullback 'difficult' * Nvidia CEO praises China's open-source models as 'very advanced' * In rare gun crime in South Korea, father kills son; bomb found at home * Hong Kong leads stocks higher, yen gains as Ishiba vows to stay * At least 18 dead in South Korea after heavy rains and landslides * Western aid cuts cede ground to China in South-East Asia: study * South Korea reviewing various options to improve North Korea ties * At least 19 killed as Bangladesh air force plane crashes into college campus * HK singer Kelly Chen reveals she once considered retiring from music after marriage * Wreck of WWII Imperial Japanese Navy destroyer Teruzuki found 83 years after sinking * Exclusive-Trump pledged to save Afghans. But UAE had already sent some evacuees back, cable shows * Ishiba's party members urge him to take responsibility as they face poor showing in Japan's Upper House election * Airbus signs fresh deal with Chinese partner amid talk of massive China order * Trump says Beijing is making 'big steps' in controlling fentanyl * Sri Lanka Catholics seek prosecution of sacked spy chief * Australia's growing algal crisis in south devastates marine life * Israeli fire kills 67 aid seekers in Gaza, medics say, as hunger worsens * Pakistani Islamist militants use drones to target security forces, officials say * China stocks near 2022 high on construction, rare earth gains; Hang Seng tests 25,000 * Badminton - Zii Jia appears fine in first public appearance in China * Cricket - Knee injury ends Reddy's England tour, Arshdeep out of Manchester test

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store