Change in fuel subsidy mechanism likely


Petrol subsidy: The government may proceed with a simpler alternative to bank in petrol subsidy directly into each eligible person’s bank account before proceeding to float the RON95 petrol prices according to open market rates.

THE plan for an allocation of petrol subsidy that is linked to each vehicle owner’s identity card may be on the back burner or entirely shelved, sources say. This is due to it being too cumbersome to implement, coupled with having a high capital and maintenance costs.

Sources tell StarBizWeek that the government might proceed with a simpler alternative to bank in the petrol subsidy directly into each eligible person’s bank account before proceeding to float the RON95 petrol prices according to open market rates.

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