Gov T Was Still Subsidising Ron95 Fuel In Nov

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MP SPEAKS | Total petrol and diesel subsidies for the first 11 months of 2018 amounted to RM4,890 million and the Pakatan Harapan federal government has neither profited from retail petrol pump prices nor imposed a sales tax on RON95 or diesel
Allegations that the government has been taxing petrol are false and baseless
The simple truth is that the government did subsidise RON95 and diesel in November, albeit at a lower cost compared to the previous months
The latest official records show that in November 2018, the government paid RM4.1 million in RON95 petrol subsidy for the whole month
Meanwhile, for diesel fuel that is heavily used not only by the commercial and industrial sectors but also by the general public in Sabah and Sarawak, the government paid an RM209.1 million subsidy in November
The full 2018 monthly total subsidy cost up to November is provided in the table below
The figures for December are still being compiled
This government is dedicated to transparency. If and when the Automatic Pricing Mechanism (APM) prices drop further, the government will adjust the pricing downward so that Malaysians will benefit from cheaper fuel prices
As shared earlier, the government is implementing a floating mechanism this month where pump prices will fall on a weekly basis if APM prices decrease further
If APM prices rise, the retail prices will be stabilised at the current fixed levels at RM2.20 per litre for RON95 and RM2.18 per litre for diesel
Once the government rolls out its targeted petrol subsidy programme before the end of this year, petrol and diesel prices will be floated freely based on market prices
LIM GUAN ENG is DAP MP for Bagan in Penang and Finance Minister.  -Mkini

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