PDAM in support of monthly fuel pricing mechanism

The Petrol Dealers Association of Malaysia (PDAM) has stated that it supports a (return to a) monthly pricing mechanism instead of the current practice of weekly fuel pricing, The Star reports. We are currently into the 21st week of the mechanism which began January 1 this year.

Although the association preferred the government’s current fixed pricing for RON 95 petrol and diesel, it acknowledged that it was the government’s prerogative for handling its fiscal policy, said PDAM president Datuk Khairul Annuar Abdul Aziz. He added that the association is in favour of a monthly pricing mechanism should a price float for RON 95 petrol and diesel be reintroduced.

“We are eagerly awaiting the final mechanism, as we have not been consulted,” Khairul Annuar said. Last month, domestic trade and consumer affairs minister Datuk Seri Saifuddin Nasution Ismail said the price cap on RON 95 petrol may be removed once the targeted fuel subsidy scheme takes effect, although no decision has been made yet.

The government also said last month that the subsidy, expected to be limited to cost of living allowance (BSH) recipients, will likely be banked in directly into the accounts of those eligible. The ministry plans to use the BSH to finalise the number of those eligible for the aid, Saifuddin reiterated.

“They are currently cleaning up the data and are at the final stages. We want to ensure the data is credible – the deserving must be included and those who do not deserve assistance must be removed,” Saifuddin said last month.

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