The RM625 Rebate. Only A One-Off?
June 10th, 2008 at 1:13 pm by azwan. Filed under Malaysia, Managing Money, Ramblings.I read about this yesterday. Looks like the rebates, the RM625 and RM150, are not going to be an annual thing. So … you can forget about the plan to buy old cars for less than RM1000 and enjoy the rebates for nothing. Actually, I thought of that 
PUTRAJAYA: The rebates given out by the government in light of the wide-ranging revamp of the fuel subsidy scheme are a one-off offered for a one-year period.
“The rebate is one-off for one year. We will have to make a decision in March whether or not we will continue it. There will be a decision involved at that point of time,” Second Finance Minister Tan Sri Nor Mohamed Yakcop told The Edge Financial Daily in an exclusive interview.
“The one-off payment is to mitigate the one-off impact of cut in fuel subsidies,” he added.
Since the subsidy cut was announced, there has been some confusion over whether the rebates were given annually but Nor Mohamed cleared the air by saying that it is for “one cycle only” and that other mitigative measures would be announced in the upcoming 2009 budget.
In light of the new restructured fuel subsidy which came into effect yesterday, the government will be giving owners of private cars up to 2,000cc a cash payout of RM625 while owners of motorcycles up to 250cc will get a rebate of RM150.
Nor Mohamed said the government came up with the RM625 figure based on a calculation of the travelling distance made by a person.
“If we assume a person travels 50km a day, his cost will go up by RM60 a month. This RM625 is for 10 months that will work out to RM62 a month. It covers the higher cost.
“The impact for a person who travels 50km a day would be neutral as far as the increase is concerned. If he travels less, he is better off, if he travels more, he will be slightly worse off. Basically, we thought we want to cover the extra cost,” he explained.
The news is taken from The Edge
Tags: oil and gas, petrol, price hike, petroleum, gas, price increase, minyak naik, subsidy, die
azwan reply on June 10th, 2008 11:46 pm:
@Da
that’s what i read, but you know our current gomen lah. u can never believe anything they say until they do it. our bapa kenaikan, is always full or surprises.
hehehe…. kalo depan boleh bagi seribu setiap tahun lagi bagus… kan kan kan kan kan kan kan pakcik kayo aaaaaa…..
Aku pun baru tau one off payment. But I think they’ll review it next year for the next round of payment. But you know, our gomen statement is not consistent. BS
u know lah our govement totally sux,
doing thing without proper planning..
a little bit here a little bit there.
sometime wnat to pay sometime not
now all good and services price will increase.
and our PM dare o act like nothing happens and it is a small matter to the country, can u imagine that, I have said this too many time , he is the worst ever prime minister
@Fatah
seribu pun tak cukup. macam aku ni, sekarang ni minyak sebulan dah RM700 tanpa diambil kira kenaikan.
@Zaki
They said they will, but same like they say it wont go up.
@Lankapo
some people are already calling him Bapa Kenaikan. I dont want to be rude, tapi nampak gayanya memang macam tu.
hari ni pulak dalam paper, kata - no price increase untill the end of the year. I wonder who will believe such statement. and another thing, the mentris are not allowed to go for oversea trip but what’s the different when the only diff is the air ticket price. I am sure they will go somewhere near, but still stay in the penthouse. wtf!
aku tengok ramai yang happy. Haha, hepi masuk TV ke hepi dapat duit rebet. Hehe..
azwan reply on June 24th, 2008 1:01 pm:
@Titan
aku hepi dapat duit. I’ve taken for the Wira.
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