Rafizi says that the date of the rationalisation of diesel subsidies will be announced once “the sequence is correct”.

Rafizi Ramli, Rafizi’s deputy in the Ministry of Finance and Economic Affairs (MoF), said that the government had already set a date for the retargeting the rationalisation of diesel subsidies. It will take place this year.

The Economy Minister has said that the information will not be released yet, for fear of inflationary effects and possible stockpiling.

He said that the government plan to retarget diesel subsidies is on track. The exact dates will only be announced after the government decides “the sequence is correct”.

Rafizi met reporters here, on June 6, after the Department of Statistics Malaysia launched the Oil and Gas Services Equipment Census of 2024.

The Minister pointed out that the announcement on the retargeting of diesel subsidies was a prelude to managing supply, as the range of private vehicles that use diesel is not as large as the RON95.

He said that the data on those who receive cash assistance under the Budi Madani programme will be compared with the Central Database Hub (Padu), to ensure that only the most deserving people benefit.

The plan for retargeting diesel subsidies is still on track. The deficit target of 4.3% for this year is the most important parameter. We are guided by dollars and cents.

When Padu was conceptualised subsidy retargeting wasn’t the only key lever.

Padu focuses on household data, but Budi Madani’s data will be checked.

He said that the decision to retarget diesel subsidies is only for those who own privately-owned vehicles.

The oil and gas service equipment industry participants attended an earlier forum during the event where they discussed how the government could better assist these companies.

The 2024 OGSE Census, according to Datuk Seri Mohd Uzir Mahidin, the chief statistician of DOSM, Datuk Seri Mohd Uzir Mahidin can be used for planning development programmes in the industry.

Mohd. Uzir said that the move would help local companies compete in the global market by providing them with the necessary services and equipment.

Sharifah Nurlisha Zaida Syed, the Malaysian Oil and Gas Services Council’s Exco, said that she had met with four Prime Ministers to press for more action to be taken for the industry. These efforts are now being recognized.

We must remain resilient to climate change. How can we achieve this? How do we do this? “We will be better prepared,” said Sharifah Zaida.

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