Govt to announce revised fuel Automatic Pricing Mechanism shortly, says Armizan

The Star

The government will soon announce a revised Automatic Pricing Mechanism (APM) rate to support petrol stations under the targeted RON95 subsidy scheme.   Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the proposal has been submitted to the Finance Ministry, with the Subsidised Petrol Control Scheme (SKPS) expected to roll out within a month.   Read more at https://tinyurl.com/5944tvc9  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00The government will announce a revised rate for the automatic pricing mechanism APM soon

00:08to safeguard the viability of petrol stations under the targeted RON95 petrol subsidy scheme.

00:15Domestic Trade and Cost of Living Minister Datuk Armizan Mohamed Ali said the proposal

00:21to review the APM rate has been submitted to the Finance Ministry following engagement

00:26sessions with petroleum companies and petrol station associations.

00:31Speaking after presenting fleet cards at a petrol station in Cyberjaya on Friday, Armizan

00:37said the government aims to implement the subsidised petrol control scheme SKPS within

00:43a month of the targeted subsidies rollout.

00:46He added that cooperation from oil companies and petrol station operators has ensured a

00:51smooth implementation of the subsidy programme, with minor issues addressed promptly.

00:57Armizan stressed that the review is vital as it addresses long-standing calls to factor operational

01:03costs and profit margins into the pricing mechanism.

01:07On a separate matter, he warned public transport companies against instructing employees to

01:12use their personal identification cards to purchase subsidised fuel at RM1.99 per litre, a rate

01:20reserve for individual citizens.

01:23He added that companies should not exploit this system, as they already receive a subsidised

01:28rate of RM2 and RM5, which is significantly below the market price.

01:33This follows viral allegations that a company had directed its staff to use their own and

01:38even their family members' ID cards to purchase subsidised fuel for work purposes once the 300-litre

01:45monthly quota per person was exhausted.

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