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Govt unveils RM200 diesel subsidy aid
Published on: Monday, May 27, 2024
By: FMT
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Govt unveils RM200 diesel subsidy aid
A sum of RM200 will be given to eligible individuals and agriculture and commodity smallholders every month under the diesel subsidy programme.
PETALING JAYA: The finance ministry has unveiled its diesel subsidy aid programme which will see RM200 given to eligible individuals as well as agriculture and commodity smallholders every month.

The ministry said the Budi programme applies to any Malaysian with an individual or joint annual income of RM100,000 or less, and who owns a diesel-based personal vehicle less than 10 years old.

Their vehicles must also be registered with the road transport department (JPJ) and have an active road tax. They also cannot be  luxury vehicles.

“Applications will be cross-referenced with data from the Inland Revenue Board (LHDN) to exclude luxury vehicles that are less than 10 years old, and earners in the T20 income group,” the ministry said in a statement.

It said the RM200 monthly aid will not extend to individuals who own diesel motorcycles, caravans, motorhome, as well as tour vans and buses.

The aid will also not apply to those who use their vehicles for e-hailing or work purposes.

Meanwhile, smallholders who want the RM200 monthly aid must be registered with the relevant agencies under the agriculture and food security as well as plantation and commodities ministries.

Under this Budi Agri-Commodity programme, applicants must also generate an annual turnover of between RM50,000 and RM300,000, it said.

The Treasury said applications for the programmes will be open throughout the year and may be made through https://budimadani.gov.my.

“Eligible applicants who apply by June 3 and are approved for the cash assistance will receive their first cash aid by mid-June 2024, and on a monthly basis thereafter.

“Approved applications after June 3 will receive their first cash assistance within two weeks and on a monthly basis thereafter,” it said, adding that the funds will be credited into their bank accounts.

The ministry said this initiative compliments the domestic trade and cost of living ministry’s MySubsidi fleet card programme, which is for land transport and logistics firms.

Second finance minister Amir Hamzah Azizan said the Budi programme expands Putrajaya’s aid coverage ahead of the implementation of targeted diesel subsidies.

“As Prime Minister Anwar Ibrahim has iterated consistently, targeted subsidies are a key reform measure under the Madani economy framework, to build a financially sustainable and competitive Malaysia.

“An all-of-government approach is being undertaken to ensure the mechanism of targeted subsidy for diesel is comprehensive (and) efficient, and can effectively reach the majority of rakyat,” he said.

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