Those in Sabah and Sarawak may breathe a sigh of relief, as it has been confirmed that diesel fuel in East Malaysia will continue at its current subsidised price of RM2.15/litre next year.
At the tabling of Budget 2024 last month, prime minister Datuk Seri Anwar Ibrahim announced that the Malaysian government will introduce a targeted diesel subsidy in phases starting next year. We now know it will only be implemented in Peninsular Malaysia.
The initial announcement brought out concerns over overwhelming increase of living cost, especially in Sabah and Sarawak where diesel-powered 4x4s are the vehicle of choice due to the rugged terrains and challenging road conditions. A steady increase of diesel pricing (however slowly) from the current RM2.15/litre to the actual market price of RM3.78/litre would have a massive effect over in Borneo.
“(The retargeting of) diesel subsidy is only in the peninsula because diesel is used comprehensively in Sabah and Sarawak. Therefore, in order to implement it there, we would have to study the impact,” Anwar said in the Dewan Rakyat.
So there you have it. Diesel prices will go up in phases in Peninsular Malaysia starting from 2024, but it will stay as it is for Sabah and Sarawak, at least for now. What do you think of this update? Comment below.
The post Sabah and Sarawak to continue getting RM2.15/litre diesel; targeted subsidy only for Peninsular Malaysia appeared first on Paul Tan's Automotive News.
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