KPDN Holds Engagement Sessions On Petroleum Pricing Policy, APM Rates

PAPAR, Aug 24 (Bernama) -- The Domestic Trade and Cost of Living Ministry (KPDN) is holding engagement sessions with relevant associations on the retail pricing policy of petroleum products and the rates under the Automatic Pricing Mechanism (APM).

Its minister, Datuk Armizan Mohd Ali, said the feedback and recommendations from the sessions will soon be forwarded to the Finance Ministry (MoF), which oversees the matter.

“KPDN is aware of requests and appeals from companies and petrol station operators to review APM rates.

“Once the government finalises the policy and subsidy targeting mechanism for RON95, we are confident that MOF, as the central agency, will consider new APM rates,” he told reporters after the Jalur Gemilang kit handover ceremony (industry cluster) and the launch of the ‘Love Local’ campaign at a Petronas station here today.

Armizan, who is also Papar MP, said KPDN’s responsibility is to ensure sufficient supply of petrol and diesel, while making petroleum products accessible to targeted groups.

Earlier, media reports stated that the Bumiputera Petrol Dealers Association of Malaysia (Bumipeda) and the Petrol Dealers Association of Malaysia (PDAM) had called for a review of profit margins under APM as well as the Merchant Discount Rate (MDR).

In conjunction with National Day and Malaysia Day celebrations this year, Armizan said KPDN is also supporting the Fly the Jalur Gemilang campaign across all 4,320 Petronas stations nationwide as part of the ‘1 Rumah 1 Jalur Gemilang’ (1R1JG) initiative.

At the same time, Petronas is rolling out its Love Local campaign from Aug 25 to Sept 30 in support of KPDN’s Buy Malaysian Products initiative, aimed at promoting local entrepreneurs’ goods.

Armizan said KPDN highly appreciates Petronas’ commitment to advancing micro, small and medium enterprises (MSMEs) through the sale of local products at over 850 Kedai Mesra outlets nationwide, including 50 in Sabah.

“To date, Kedai Mesra has 1,842 local product suppliers, and sales of MSME products across its network have continued to grow year by year, surpassing RM150 million,” he added.

-- BERNAMA