KUALA LUMPUR (Feb 21, 2010) : The government is expected to announce a price increase of 10sen a litre for RON95 petrol and diesel when the new fuel price mechanism is revealed in mid-March, Sin Chew Daily reported today.
The price of RON97 will also be increased but there is no decision yet on the quantum.
RON95 is currently retailed at RM1.80 a litre, RON97 and diesel at RM2.05 and RM1.70 a litre respectively.
Finance Ministry sources said the government has decided to raise fuel prices as it cannot provide more subsidy needed to maintain fuel prices at current levels following a spike in global crude oil prices.
The government believes an increase of 10sen a litre is acceptable to the public.
The sources also told the daily the government has yet to come up with a fuel price mechanism that is acceptable to all quarters, and as a result it may put off or may even be forced to abandon some new measures that are already in the pipeline.
“Plans were afoot for the registration of vehicle owners and their MyKad through Maybank and petrol kiosks to begin in April under the proposed ‘one vehicle owner, one subsidy’ fuel subsidy mechanism. It looks like the plan may not take off.”
The sources said the cap on selling 20 litres of petrol to foreign cars near Malaysian borders will continue to be implemented.
Meanwhile, Petrol Dealers Association of Malaysia president Datuk Hashim Othman believes that foreign car owners will pay the market price when the new fuel price mechanism is introduced next month.
He said the government’s main intention is to provide subsidy to those who qualify for it, to protect the interest of the lower and middle-income groups as well as save on expenditures.
-The Sun - 21 Feb 2010
*****************************
Most MSMs didn't bother to put this up, but Sin Chew and The Sun has published something that is believed to be pretty disturbing and is coming from some insiders of the Finance Ministry. Remember back last year, that the government is planning to move to using a new two-tier mechanism for petrol, as what Ayah Dafi Sabri said sometime back?
Well, the precursor prior to this is there is a high chance of increasing fuel by another 10 sen more by the middle of next month. But something is not right here. During Abdullah Badawi's final months prior to his retirement then, the then Domestic Consumer Affairs Minister, Shahrir Samad, said that the price of RM 1.80 is minus subsidy? Then later, after that the gomen said that RM 1.80 is inclusive of 30 sen subsidy.
See, I already mentioned from day one that you make the wrong choice and this is what you get. A few months after BN suffered a big loss in the general elections, the petrol price shot up to RM 2.70 only to go back to the present RM 1.80 in six months after that. But people got angry.
No...why in the first place you people make the wrong choice? That is the price you pay for that.
Reducing the subsidy again, is doing what the Economic Hitmen would tell the politicians to do. To take away our own resources, to cheat countries out the hard earn money they do and so forth. Maybe the best challenge is to try Anwar Ibrahim's solution of cutting down the IPP capacity and reducing the petrol price by 1/3rd. Hey, of course BN said before that if we follow Anwar Ibrahim's crazy idea, the country will go bankrupt. But it goes the other way round.
BN tries to show themselves as hero for the community but the reality is not helping their image, even if they have the PR company called APCO behind them. Ain't helping that much really.
The new planned petrol price mechanism is still incoherent, unstable because there are many loopholes that will have to be seen and discovered by many angles. To have two tiers of price is somewhat making things difficult to handle and maintain.
"Our economy is strong..." blah blah blah
The price of RON97 will also be increased but there is no decision yet on the quantum.
RON95 is currently retailed at RM1.80 a litre, RON97 and diesel at RM2.05 and RM1.70 a litre respectively.
Finance Ministry sources said the government has decided to raise fuel prices as it cannot provide more subsidy needed to maintain fuel prices at current levels following a spike in global crude oil prices.
The government believes an increase of 10sen a litre is acceptable to the public.
The sources also told the daily the government has yet to come up with a fuel price mechanism that is acceptable to all quarters, and as a result it may put off or may even be forced to abandon some new measures that are already in the pipeline.
“Plans were afoot for the registration of vehicle owners and their MyKad through Maybank and petrol kiosks to begin in April under the proposed ‘one vehicle owner, one subsidy’ fuel subsidy mechanism. It looks like the plan may not take off.”
The sources said the cap on selling 20 litres of petrol to foreign cars near Malaysian borders will continue to be implemented.
Meanwhile, Petrol Dealers Association of Malaysia president Datuk Hashim Othman believes that foreign car owners will pay the market price when the new fuel price mechanism is introduced next month.
He said the government’s main intention is to provide subsidy to those who qualify for it, to protect the interest of the lower and middle-income groups as well as save on expenditures.
-The Sun - 21 Feb 2010
*****************************
Most MSMs didn't bother to put this up, but Sin Chew and The Sun has published something that is believed to be pretty disturbing and is coming from some insiders of the Finance Ministry. Remember back last year, that the government is planning to move to using a new two-tier mechanism for petrol, as what Ayah Dafi Sabri said sometime back?
Well, the precursor prior to this is there is a high chance of increasing fuel by another 10 sen more by the middle of next month. But something is not right here. During Abdullah Badawi's final months prior to his retirement then, the then Domestic Consumer Affairs Minister, Shahrir Samad, said that the price of RM 1.80 is minus subsidy? Then later, after that the gomen said that RM 1.80 is inclusive of 30 sen subsidy.
See, I already mentioned from day one that you make the wrong choice and this is what you get. A few months after BN suffered a big loss in the general elections, the petrol price shot up to RM 2.70 only to go back to the present RM 1.80 in six months after that. But people got angry.
No...why in the first place you people make the wrong choice? That is the price you pay for that.
Reducing the subsidy again, is doing what the Economic Hitmen would tell the politicians to do. To take away our own resources, to cheat countries out the hard earn money they do and so forth. Maybe the best challenge is to try Anwar Ibrahim's solution of cutting down the IPP capacity and reducing the petrol price by 1/3rd. Hey, of course BN said before that if we follow Anwar Ibrahim's crazy idea, the country will go bankrupt. But it goes the other way round.
BN tries to show themselves as hero for the community but the reality is not helping their image, even if they have the PR company called APCO behind them. Ain't helping that much really.
The new planned petrol price mechanism is still incoherent, unstable because there are many loopholes that will have to be seen and discovered by many angles. To have two tiers of price is somewhat making things difficult to handle and maintain.
"Our economy is strong..." blah blah blah
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