PAPAR: The Domestic Trade and Cost of Living Ministry is holding engagement sessions with relevant associations on the retail pricing policy of petroleum products and the rates under the Automatic Pricing Mechanism (APM).
Its minister Datuk Armizan Mohd Ali (pic) said the feedback and recommendations from the sessions will be forwarded to the Finance Ministry, which oversees the matter.
He said the Domestic Trade and Cost of Living Ministry is aware of requests and appeals from companies and petrol station operators to review APM rates.
“Once the government finalises the policy and subsidy targeting mechanism for RON95, we are confident that the Finance Ministry, as the central agency, will consider new APM rates,” he told reporters after a Jalur Gemilang kit handover ceremony at the launch of the “Love Local” campaign at a Petronas station here yesterday, Bernama reported.
Armizan said the responsibility of the Domestic Trade and Cost of Living Ministry is to ensure sufficient supply of petrol and diesel, while making petroleum products accessible to targeted groups.
Earlier, media reports stated that the Bumiputra Petrol Dealers Association of Malaysia and the Petrol Dealers Association of Malaysia had called for a review of profit margins under APM as well as the Merchant Discount Rate.
In conjunction with National Day and Malaysia Day celebrations, Armizan said the ministry is also supporting the Fly the Jalur Gemilang campaign across 4,320 Petronas stations nationwide as part of the “1 Rumah 1 Jalur Gemilang” initiative.
Petronas is rolling out its Love Local campaign from today till Sept 30 in support of the ministry’s Buy Malaysian Products initiative, aimed at promoting local entrepreneurs.
Armizan said the ministry is appreciative of Petronas’ commitment to advancing micro, small and medium enterprises through the sale of local products at over 850 Kedai Mesra outlets nationwide, including 50 in Sabah.
