Govt studying structure of new fuel subsidy rationalisation scheme

DUBAI: The government is still in the midst of studying the structure of a new fuel subsidy rationalisation scheme, says Prime Minister Datuk Seri Najib Abdul Razak (pix).
"It is a bit premature (to disclose) as it is still at 'a request for proposal' stage. As for now, the present system will continue. We will decide when we have the best proposal with a full package," he told Malaysian journalists late Wednesday.
Najib was on a three-day working visit to Dubai in conjunction with the 10th World Islamic Economic Forum (WIEF) which ended today.
When asked on the timeline, Najib, who is also Finance Minister, said "the public will be fully informed mid-next year."
Najib said the new scheme which was reportedly to be divided into three tiers, depending on monthly income, was just part of the proposal.
It was proposed that those earning below RM5,000 per month should continue to enjoy the fuel subsidy while those earning above RM10,000 would not be eligible. – Bernama