Kuala lumpur: The MADANI government remains committed to protecting the people from global economic pressures by maintaining the subsidised price of RON95 petrol at RM1.99 per litre under the BUDI MADANI RON95 (BUDI95) programme, keeping Malaysia among countries with the lowest fuel prices globally.
According to BERNAMA News Agency, Home Minister Datuk Seri Saifuddin Nasution Ismail stated that the initiative comes amid a surge in global crude oil prices beyond US$100 per barrel, impacting numerous nations. He pointed out that petrol prices in some regions exceed RM10 per litre, such as in Singapore, and reach approximately RM14 per litre in Hong Kong. However, Malaysia, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, has opted to safeguard its citizens.
The Home Minister emphasized that the government is aware of the potential burden if these costs were to be transferred to the rakyat. Consequently, a decision was made to act as a 'shield' for the populace, as he expressed in a Facebook post. Although the pump price remains at RM1.99, the actual financial burden on the government has intensified, with the fuel subsidy expenses escalating sixfold from RM700 million to RM4 billion monthly.
In light of this, the government plans to make a temporary adjustment to the BUDI95 eligibility quota, reducing it from 300 litres to 200 litres per month, effective April 1. This change is not anticipated to affect the majority of Malaysians, as data indicates that nearly 90 percent consume an average of approximately 100 litres of petrol monthly.
The Home Minister assured that e-hailing drivers need not be concerned, as their quota will remain at 800 litres per month to support their livelihoods. For the 10 percent who exceed the 200-litre monthly threshold, he urged them to perceive this adjustment as a move towards a more sustainable lifestyle.
As the nation navigates global economic challenges, the minister encouraged higher-income and higher-spending groups to exercise prudence by reducing unnecessary travel, practising carpooling, or utilizing public transport. The MADANI government has absorbed global price increases to avert a significant rise in the cost of living, reflecting the resilience of Malaysia MADANI in prioritizing protection for its citizens over passing the burden onto them.