Kuala lumpur: The government is poised to unveil a revised rate for the Automatic Pricing Mechanism (APM) in the near future to maintain the viability of petrol stations following the introduction of the targeted RON95 petrol subsidy. Minister of Domestic Trade and Cost of Living, Datuk Armizan Mohd Ali, confirmed that a proposal has been submitted to the Ministry of Finance (MOF) after consultations with petroleum companies and petrol station associations.

According to BERNAMA News Agency, the MOF has prioritized the review of the APM rate as an initial step. Armizan mentioned that while the Subsidised Diesel Control Scheme (SKDS) required significant time to implement, the government aims to roll out the Subsidised Petrol Control Scheme (SKPS) swiftly, ideally within a month of the targeted subsidy launch. This announcement was made during a media briefing where Armizan presented Fleet Cards at a petrol station.

The minister expressed satisfaction with the cooperation from oil companies and petrol station operators in implementing the targeted RON95 subsidy, noting that minor issues were swiftly resolved. He reiterated the government’s commitment to reviewing the APM rate and addressing persistent industry concerns, emphasizing that the review would incorporate operational costs and profit margins into the mechanism.

On a different note, Armizan warned public transport companies against instructing employees to misuse their identification cards to purchase subsidised fuel at the public rate of RM1.99 per litre. He pointed out that companies are already benefiting from a subsidised rate of RM2.05, which is below the market price.

Allegations have emerged on social media that a company instructed employees to exploit the BUDI95 subsidised scheme by using personal and family members’ identification cards to purchase fuel at RM1.99 per litre after exhausting their 300-litre monthly quota. Armizan stated that such practices would be subject to stern action by the KPDN.