KUALA LUMPUR: The government will allocate RM2.2 billion for the proposed Fuel Subsidy Programme (PSP), which is set to benefit more than eight million motorists nationwide. “Individuals who own no more than two cars and two motorcycles are eligible to receive PSP for (only) one vehicle. Upon commencement of the fuel subsidy scheme, RON95 and diesel retail prices will be gradually floated, said Lim. “This will reduce leakages and cross-border smuggling of subsidised fuel, which is estimated to cost the government millions of ringgit. “However, no fuel subsidy will be given when the market-determined APM price falls below RM2.08 per litre,” he added.

Source: New Strait Times October 11, 2019 11:03 UTC