Finance Ministry seeks logistics industry’s views on targeted diesel subsidies

April 20, 2024

Finance Ministry seeks logistics industry’s views on targeted diesel subsidies

KUALA LUMPUR, April 20 — Treasury secretary-general Datuk Johan Mahmood Merican held a discussion yesterday with the logistics industry on the implementation of the proposed targeted diesel subsidies.

“This discussion was held to seek the views of associations and logistics companies about the scope and criteria for the proposed programme, especially to listen to the issues faced and measures for improvement,” the Ministry of Finance (MoF) said in a post on its official Facebook page today.

As tabled in Budget 2024, MoF said, the government will implement the rationalisation of subsidies to prevent continuous leakage and smuggling.

“However, in order to reduce the impact on the prices of goods for the people, subsidised diesel prices will continue to be enjoyed by selected users such as goods transport companies,” it said.

The ministry said the diesel subsidy rationalisation mechanism will be carried out jointly with the Ministry of Domestic Trade and Cost of Living (KPDN) through the Subsidised Diesel Control System 2.0 (SKDS 2.0) pilot project.

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“Once successfully approved under KPDN’s MySubsidi Diesel system, companies in the land transport sector (goods) can obtain fleet cards from selected oil companies to purchase subsidised diesel,” it said.

The ministry said the government will be able to channel the country’s revenue to the people who really need it via initiatives such as Sumbangan Tunai Rahmah, Sumbangan Asas Rahmah and other forms of assistance following the implementation of the diesel subsidy rationalisation. — Bernama