That's right. The Government is quite firm on "restructuring" the fuel
subsidy on May 1st. Here is how it will work. First the price of RON95 will
go up to RM2.10 per litre. Those who are eligible for the subsidies will
have to swipe their MyKads at the gas stations and they will still get gas
at the "old" price of RM1.80 per litre.
Those who are not eligible will have to pay RM2.10 per litre. This is based
on todays world prices for oil. If oil goes up or down between now and May
1st, then the prices will be adjusted.
Eligible means cars below 2000 cc while cars above 2000 cc are not
eligible. Between now and May 1st, you must register your MyKad and your
car (if it is below 2000cc) somewhere. Details to be announced I think.
Those with cars above 2000cc need not bother. You dont get the subsidy
anyway.
Petrol stations will be equipped with a hand held device which can read
your MyKad so that you can get your subsidy and also to read the amount of
petrol you have used. The Government plans to allow only 100 litres of
subsidised petrol per car owner per month. Only one car will be allowed for
the subsidy..
All gas stations will be linked online (by May 1st) so that your usage of
petrol will be monitored. The Government has talked to all the oil
companies and they have all agreed.
Diesel will still be subsidised and commercial vehicles will not be
affected. Only petrol driven privately owned passenger vehicles are
eligible or not eligible for the subsidy.
What this means is that owners of cars below 2000cc will not see any
reduction in their living expenses. They will still pay RM1.80 per litre
for RON95 like they do today - no change there, except they will now have
to flash their MyKads everytime they buy petrol, because they will only get
say 100 litres of subsidised petrol a month..
Owners of cars above 2000cc will pay 30 sen more per litre - over 16%
increase per litre of petrol.
Presently the Government spends about RM2.0 billion per year on fuel
subsidies (petrol, diesel, all petroleum fuel). It is envisaged that this
"restructuring the fuel subsidy" - which affects only petrol driven
privately owned cars - will save the Government RM1.0 to RM1.5 billion.
Here are more numbers. There are about 8.0 million privately owned cars in
Malaysia. Of these, 7.8 million are cars below 2000cc. This means this
whole restructuring of the fuel subsidies is only going to affect 200,000
cars of 2000cc and above ? ?
And by making these 200,000 cars (of greater than 2000cc) pay an extra 30
sen per litre, the Government will save RM1.5 billion in subsidies a
year ? ? I did some quick arithmetic and it works out to about 300 litres
per car per month. But the Government is open for suggestions.
My view is while the 'restructuring' is supposed to help the poor, it does
not really. They will still pay RM1.80 per litre (which they are paying
now). There is no savings for them. Only the rich (those owning cars of
2000cc and above) will end up paying 30 sen more per litre. So while the
poor remain status quo, the rich get penalised.
Even if world oil prices go up and pump prices also move up, the poor will
still get subsidised petrol but at the higher market price. The rich will
pay more.
I feel that prices of things will still go up. Although commercial vehicles
and diesel lorries and trucks and tractors will still get subsidised fuel
(thereby canceling the urge to raise prices) there will be some impact on
the Consumer Price Index. Pasar malam traders use petrol driven generators
to do their business at night. There are other equipment that may run on
petrol - which may not enjoy the subsidy.
When the Government gave special diesel subsidies for the inshore fishermen
(RM1..00 per litre of diesel), it immediately created huge diesel smugling
problems. Then the Customs had to spend millions of Ringgit to buy boats to
curb the smugling.
I think this split fuel subsidy structure will also create instant "kampong
oil traders" especially if the oil prices move up drastically. People who
have not used up their 100 litre per month quota will buy fuel and sell it
for a small profit to others who may need it.
It would be fairer if the Government gave everyone a flat 100 litres (or
150 litres or 200 litres as may be more scientifically determined) of
subsidised petrol. Above that and you pay market prices. And put in place a
program to remove the subsidy altogether.
Its only 30 sen per litre (ok at current prices). The Government can reduce
10 sen per year and in three years, there will be no more need for fuel
subsidies. The market will settle down to a new level by itself .
The issue of foreign cars can also be handled in a much easier manner.
Singapore allows Malaysian cars 14 days free entry into Singapore. After
that you have to pay RM75 per day. We could do the same thing. Charge
foreign private cars RM10 tax per day - which goes to the Government or
something like that..
The idea to deny the fuel subsidy to foreigners living in Malaysia does not
seem fair. Foreigners who are resident here also pay road tax, drive cars
bought in the country (paying excise duties etc) and may work here or run
businesses here. They are actually part of the economy.
Foreign cars coming in from Singapore or Thailand are different.
The public also would like to see a drastic reduction in the prices of
cars. Also a reduction in paying tolls. That would be more meaningful.
In conclusion, this restructuring of the fuel subsidies does NOT save any
money for the poor (below 2000cc). The rich (above 2000cc) have to pay
more. Both have to swipe their MyKads. They are all voters.
FWD: Jamil's email
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