Alert 1

The mechanism for fuel pricing in Malaysia has finally

been finalized and controlled under one mechanism, which also takes the

high and lower income group people into consideration, according to

Finance Trade Minister Tan Sri Anuar Ali.

"From May 1, the fuel will be pegged at RM 3.90 per litre for RON97, while

RON95 will increase to RM 3.70 per litre. However, the prices of

national-made vehicles will be lowered by at least 40 percent. For

example, a full-spec family sedan Proton Persona 1.6 litre engine will

cost around RM 23,000.00 excluding road tax and insurance. Import tax and

excise duty will be revised to only 30 percent, from the current 200

percent. Imported vehicles such as the new Toyota Camry 2.4 litre engine

will cost around RM 65,000.00." he said.

The mechanics has been said to be undertaken by a team of experts from

Australia and Canada who were earlier briefed on the issue of subsidy in

this country, whereas after consideration by the transport minister, they

have signed the constitution that the system will be made on May 1, the

day it goes into effect.

Under the new system, there will be a major effect on the existing

consumers who have already purchased a vehicle and to those who are in the

midst of repaying the loan of their vehicle to their financial

institutions.

Ahmad Tajuddin said the government might also re-introduce a cash return

annually to Malaysians who own a 1,500 cc and below vehicle. The amount

have yet to be decided but he assured that the amount will compensate the

price of fuel by at least half to eligible Malaysians based on bumi quota.

- SkyNet News Asia

Kita Tunggu dan Lihat cerita selanjutnya....