The new Ron 95 subsidy plan has been revealed. It is now confirmed that only successful BSH recipient will be receiving petrol subsidy which will be banked into their accounts directly. The new plan will be named Program Subsidi Petrol (PSP)
Program Subisidi Petrol (PSP)
For East Malaysia ( Sabah, Sarawak & Labuan )
The Ron 95 will be capped at RM 2.08 per liter . There will be no changed of fuel price for these 2 states and WP Labuan
For West Malaysia
Only BSH recipients will be receiving fuel subsidy that will be credited directly into their bank accounts. Therefore you can enjoy enjoy PSP once you have successfully applied for BSH. Ron 95 fuel will be free floating according to world market petrol price.
For BSH recipients
Conditions
1)Subsidy only for those who are in BSH successful name list.
2)RM 30 monthly subsidy for car owners and RM 12 monthly subsidy for motorcycle onwer
3) One owner will only be receiving one subsidy whichever that is higher. For example if a person owns a car and motor, only the car subsidy of RM 30 will be given. The vehicle must be registered on recipients name.
4) Only for household income below RM 4,000
5) Subsidy will be automatically credited directly every 4 months into recipient’s account. This is Rm 120 and RM 48 based on banking information in BSH. The first payment is expected to be paid at April 2020
6) Recipients can only own maximum 2 cars and two motorcycle at anytime.
7) Cars must be 1600cc and lower , or above 10 years car that is above 1600cc
8) Motorcycle must be below 150cc or above 7 years motorcycle above 150cc
Check your PSP Qualification
Ron 95 price will be floated weekly as the Ron 97 once the subsidy has been removed. Once free floated, the Ron 95 will be calculated based Automatic Price Mechanism (APM). A total of near 3 million BSH recipients will stand to benefit from this new plan. Government will be able to save RM 65.4 million per month . Ron 95 will be set at RM 2.30 at this week. The new PSP will be implemented at January of next year