KUALA LUMPUR: The government will allocate RM2.2 billion for the targeted Fuel Subsidy Programme (PSP) scheme which will benefit about eight million motorists.
Finance Minister Lim Guan Eng said beginning Jan 2020, the targeted PSP which was a pledge made by the Pakatan Harapan government, would be launched in Peninsular Malaysia on two categories of eligible people.
“The first category comprising recipients of BSH (Cost of Living Aid) will get petrol subsidy of RM30 a month for car owners or RM12 a month for motorcycle owners.
“This subsidy will be given in the form of cash and will be credited into the recipient’s bank account every four months. The first payment will be made in April 2020 for the period of Jan to April 2020,” he said when tabling the budget at the Dewan Rakyat here yesterday.
The second category for other motorists who are eligible and not recipients of the BSH will receive the Kad95 which will enable them to enjoy a fuel subsidy of 30 sen per litre limited to 100 litres per month for cars or 40 litres a month for motorcycles.
Lim said the Kad95 will be implemented in stages during the first quarter of 2020.
He also stressed that luxury cars are not eligible for the subsidy.
“The vehicles which are eligible for the subsidy are cars with an engine capacity of 1,600 cc and less, or cars with engine capacity of more than 1600 cc which are more than 10 years old, or motorcycles with engine capacity of 150 cc and less, or motorcycles with engine capacities of more than 150 cc which are more than seven years.
“Every citizen who owns not more than two cars and two motorcycles are eligible to get the PSP for one vehicle only,” he said. – Bernama
