PETALING JAYA: The Budi Madani RON95 subsidy initiative (BUDI95), was among the national topics discussed when His Majesty Sultan Ibrahim, King of Malaysia, granted an audience to Prime Minister Datuk Seri Anwar Ibrahim at Istana Bukit Tunku, Kuala Lumpur yesterday.
BUDI95 is aimed at ensuring fuel subsidies are better targeted to benefit eligible groups, especially those from the lower-income bracket.
The government will reduce the price of RON95 petrol from RM2.05 to RM1.99 per litre under the BUDI95 initiative.
According to the Ministry of Finance, the BUDI95 system will be rolled out in phases, starting with 300,000 members of the armed forces and police on September 27
On September 28 the system will be made available to B40 recipients currently receiving the Sumbangan Tunai Rahmah (STR) cash aid.
By September 30, the subsidy will be extended to around 16 million Malaysians aged 16 and above who hold a valid MyKad and driving licence.
Under this initiative, eligible individuals will be entitled to a monthly quota of up to 300 litres of subsidised RON95 petrol.
E-hailing drivers are not subject to this limit and may apply for a larger subsidised quota.
During the audience, the Prime Minister also briefed His Majesty on the nation’s preparations for the upcoming 47th Asean Summit, set to take place in Kuala Lumpur next month.
The summit, which will bring together leaders from Southeast Asian countries, is a key diplomatic event expected to focus on regional collaboration, economic development, and current geopolitical issues affecting the Asean region.
