The Malaysian Finance Ministry has introduced the Budi program, a diesel subsidy aid initiative aimed at providing RM200 monthly assistance to eligible individuals, as well as agriculture and commodity smallholders.
This program is designed to support Malaysians with an individual or joint annual income of RM100,000 or less who own diesel-based personal vehicles. However, luxury diesel vehicle owners under 10 years old are ineligible for this aid. To qualify, vehicles must be registered with the Road Transport Department (JPJ) and have an active road tax.
To ensure fairness and accuracy in the distribution of aid, applications will be cross-referenced with data from the Inland Revenue Board (LHDN) to exclude luxury vehicles less than 10 years old and earners in the T20 income group. Additionally, the RM200 monthly aid will not extend to individuals who own diesel motorcycles, caravans, motorhomes, tour vans, or buses, nor will it apply to those who use their vehicles for e-hailing or work purposes.
Smallholders seeking the RM200 monthly aid must be registered with relevant agencies under the agriculture and food security as well as plantation and commodities ministries. Under the Budi Agri-Commodity program, applicants must generate an annual turnover between RM50,000 and RM300,000.
Applications for the Budi program will be open throughout the year and can be submitted through the official website https://budimadani.gov.my. Eligible applicants who apply by June 3 and are approved will receive their first cash aid by mid-June 2024, and subsequently on a monthly basis. For approved applications submitted after June 3, the first cash assistance will be received within two weeks, followed by monthly payments thereafter, with funds credited directly into their bank accounts.
The Finance Ministry emphasizes that this initiative complements the Domestic Trade and Cost of Living Ministry’s MySubsidi fleet card program, targeting land transport and logistics firms. Second Finance Minister Amir Hamzah Azizan highlighted that the Budi program expands the government’s aid coverage ahead of the implementation of targeted diesel subsidies. He reiterated Prime Minister Anwar Ibrahim’s stance on targeted subsidies as a crucial reform measure under the Madani economy framework, aiming to build a financially sustainable and competitive Malaysia. An all-of-government approach is being undertaken to ensure the comprehensive and efficient implementation of targeted diesel subsidies, effectively reaching the majority of the population.
Source: Link
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