SERDANG – Prime Minister Datuk Seri Anwar Ibrahim today announced an additional allocation of RM100 million to Felda to offset increased operating costs resulting from the implementation of the targeted diesel subsidy.
Anwar, who is also finance minister, said that the allocation was agreed upon following discussions with Felda chairman Datuk Seri Ahmad Shabery Cheek regarding challenges faced by the agency under the new subsidy scheme.
“Is the implementation of the targeted diesel subsidy one hundred per cent perfect? Ahmad Shabery raised concerns regarding Felda’s equipment reliant on diesel, after a cabinet meeting. Therefore, I have approved an additional RM100 million allocation,” he said when officiating the Felda Settlers’ Day celebration today.
Effective June 10, the price of diesel at all retail stations in Peninsular Malaysia was set at RM3.35 a litre, reflecting the unsubsidised market price based on the May 2024 average under the Automatic Pricing Mechanism formula.
Previously, Finance Minister II Datuk Seri Amir Hamzah Azizan reportedly said that for the following periods, the diesel price would be announced every week according to the current practice of the Finance Ministry and the government would continue to monitor the current situation to avoid price instability. – July 14, 2024