From May 1, the fuel will be pegged at RM3.90 per litre for RON97, while RON95 will increase to RM3.70 per litre. However, the prices of national-made vehicles will be lowered by at least 40%. For example, a full-spec family sedan Proton Persona 1.6litre engine will cost around RM23k excluding road tax and insurance. Import tax and excise duty will be revised to only 30%, from the current 200%. Imported vehicles such as the new Toyota Camry 2.4litre engine will cost around RM65k.The mechanics has been said to be undertaken by a team of experts from Australia and Canada who were earlier briefed on the issue of subsidy in this country, whereas after consideration by the transport minister, they have signed the constitution that the system will be made on May 1, the day it goes into effect. Under the new system, there will be a major effect on the existing consumers who have already purchased a vehicle and to those who are in the midst of repaying the loan of their vehicle to their financial institutions. Ahmad Tajuddin said the government might also re-introduce a cash return annually to Malaysians who own a 1,500cc and below vehicle. The amount have yet to be decided but he assured that the amount will compensate the price of fuel by at least half to eligible Malaysians based on bumi quota.So people be ready to face this changes sumtime in May..Salam Reformasi.
