Prime Minister Datuk Seri Anwar Ibrahim today tabled Budget 2025 in Parliament, which included some interesting announcements. These include the implementation of targeted subsidy for RON95 fuel beginning the middle of next year.
During his speech, Anwar said that the Government will continue subsidising RON95 for the majority of people. Specifically, 85 per cent of Malaysians will still enjoy the RON95 fuel subsidy once the blanket subsidy is removed next year.
He added that currently, 40 per cent of the RON95 blanket subsidy now is being enjoyed by foreigners and 15 per cent of the ultra-rich in Malaysia. Hence, the Prime Minister stressed that the RM8 billion used for the RON95 blanket subsidy is better used for education, healthcare and public transport.
Accordingly, the RON95 targeted subsidy will be implemented starting mid-2025 and the savings that the move entails would benefit Malaysians greatly, says Anwar. No mechanism has been announced just yet though, so do stay tuned to TechNave for the latest developments on this and more trending tech news.
COMMENTS