Malaysia, which recently raised fuel prices, is considering a ration system to sell a limited amount of gasoline and diesel at subsidized rates, a news report said yesterday.
The ration system would replace the cash rebate that is being given to owners of small and medium-sized cars to partly compensate them for the price hike, the Star daily said, quoting two Cabinet ministers.
Second Finance Minister Nor Mohamed Yakcop was quoted as saying that the government may issue a special card to motorists to buy the subsidized fuel.
“We are still looking into this system as certain infrastructure would be required for the subsidized fuel cards to be used,” he was quoted as saying.
The Malaysian government reduced fuel subsidies earlier this month, raising the pump price for gasoline by 41 percent and diesel by 63 percent.
To soften the impact on middle-class and poor Malaysians, the government also announced an annual cash rebate of 625 ringgit (US$191) for owners of cars with engine capacity of less than 2,000cc and a 150 ringgit rebate for motorcycle owners.
But post offices across Malaysia, entrusted with handing out the cash, were inundated with crowds when the system went into force on Friday.
“We are talking about rebates for 500,000 cars a month and that does not even include motorcycles,” Domestic Trade and Consumer Affairs Minister Shahrir Samad was quoted as saying by the Star. “Surely there can be a better system of dispensing subsidy to vehicle owners ... we have to work on it.”
Any changes would be made after the one-year rebate period, Shahrir said.
Aides to Nor Mohamed and Shahrir confirmed the comments. They declined to be named, citing protocol.
Gasoline now costs 2.70 ringgit a liter, or US$3.30 a gallon, at pumps.
Still, petrol prices in Malaysia — a net oil exporter — are lower than in most other Southeast Asian countries.
Since the increase, opposition parties and non-governmental organizations have staged scattered protests throughout the country and are preparing for a mass rally on July 5.
Prime Minister Abdullah Ahmad Badawi has defended the decision to raise fuel prices, saying the government can no longer afford the subsidies because of rising world oil prices.
However, he has promised not to raise pump prices this year.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
RSS