Fuel

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   

Wait N See....