PUTRAJAYA: The government’s new petrol subsidy scheme will float the price of RON95 petrol and see eligible recipients receiving between RM48 (motorcycle owners) and RM120 (car owners) every four months.

The targeted subsidy scheme, which is set to take effect in early 2020, will only be given to car and motorcycle owners based in Peninsular Malaysia who are also recipients of the Bantuan Sara Hidup (BSH).

For cars, only those with 1,600cc engines and below or vehicles over 10 years old with engines larger than 1,600cc are eligible.

For motorcycle owners, the subsidy is only given to those with engines of 150cc and below, or seven-year-old bikes or more above 150cc.

For Sabah, Sarawak and Labuan, there will be no subsidy scheme but the price of RON95 in the two states and the Federal Territory will be capped at RM2.08, Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail told a special media conference here Monday (Oct 7).

He said a total of 2.8 million people will benefit from the subsidy scheme, which will cost the government about RM65.4mil a month.

More to come