oday, let’s discuss a piece of news: [Gasoline prices have increased, how the government can reduce the burden on the people].
As fuel prices continue to hit new highs , the government will consider increasing the 1Malaysia Assistance Fund (BR1M) if necessary to reduce the burden on low-income people.
Fuel prices have been rising in recent days
and car owners are crying out that they can no longer afford it.
Companies you may be interested in
In response to the rise in fuel prices, Second Finance Minister Johari said the government will continue to observe the trend of oil prices and provide assistance to low-income people when necessary, and does not rule out increasing the 1Malaysia Assistance Fund (BR1M).
He pointed out: “If the oil price suddenly rises sharply, such as to US$100 (RM413) per barrel, the government will consider returning the higher oil and gas revenue to the people. If the international oil price rises by US$1 (RM4.13) per barrel, the government will earn an additional RM300 million in revenue. If the oil price rises by US$5 (about RM20.65), the government can earn an additional RM1.5 billion in revenue.”
He said this after witnessing India Mobile Database the signing of a memorandum of understanding between the Inland Revenue Board and the Royal Customs Department (JKDM) today.
Johari said the government
will closely monitor the trend of oil prices, especially transportation costs, which account for a large proportion of the Consumer Australia Business Phone List Price Index (CPI). If oil prices rise and affect specific groups , the government may increase financial assistance for the 40% lowest income families (B40) and the 40% middle income group (M40), such as increasing the 1Malaysia Assistance Fund (BR1M).
In addition to the oil price trend, he revealed that the government may provide financial assistance in certain “serious” situations, but at this stage, he is not in a position to disclose how to define “serious” situations in order to avoid market instability.
