KLCCP Stapled Group posts higher PBT of RM1.1 bln in FY19 [ 8m ago ]


PSP : registration for M40 to open 2nd Qtr 2020

Last update: 12/01/2020
SHAH ALAM, Jan 12 -- The petrol subsidy programme (PSP) for the medium-income household (M40) group will be open for registration in the second quarter of this year, said Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Seri Saifuddin Nasution Ismail.

He said both KPDNHEP and the Finance Ministry were also looking into a more suitable mechanism in channelling the subsidies for M40 PSP recipients, either by card or cash.

"The data for the recipients has been completed and currently the two ministries are discussing on the method of distribution.The government is looking for a seamless integration where consumers will not feel any difference when purchasing petrol once the PSP is implemented.

"In conducting the study for B40, KPDNHEP felt that paying cash would be more efficient as compared with other methods, so the deferment of the PSP has enabled both ministries to come to the same decision," he told reporters when met at the Khalid Samad Cup Unity Football Championship here today.

Elaborating Saifuddin Nasution said the PSP was implemented by the government to prevent owners of luxury vehicles and foreigners from receiving the targeted subsidies.


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