According to communications minister Fahmi Fadzil, the government has no plans to reintroduce the goods and services tax (GST) as an alternative to removing subsidies for RON 95 petrol.
As reported by Bernama and NST, Fahmi was responding to a recent article published by Bloomberg that claimed the return of GST in lieu of the RON 95 subsidy cut. “No, there were never discussions,” he said.
The article, which cited sources familiar with the matter but preferred not to be identified, claimed that there is an emerging view in the government that bringing back the GST may be “politically easier” than removing subsidies for the widely-used RON 95 petrol as it aims to bolster its finances.
At present, the fuel subsidy rationalisation programme that came into effect in July this year has resulted in diesel prices in Peninsular Malaysia being floated. There’s still no word on when the programme will be expanded to include RON 95 petrol or how financial assistance will be provided to those who qualify.
The Program Bantuan Subsidi Madani, or Budi Madani in short, is currently available for private owners of diesel vehicles and agriculture smallholders in Peninsular Malaysia, with those that meet the requirements being provided with RM200 per month in assistance.
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