Owners of diesel cars are eligible to apply for BUDI MADANI financial aid
KUALA LUMPUR: Starting May 28, Peninsular Malaysian individuals, small-scale farmers, and smallholder farmers belonging to the B40 and M40 groups are eligible to apply for monetary support through the MADANI Subsidy support or BUDI MADANI programme.
Small-scale farmers and smallholders may file applications under the agri-commodity category, while individual private diesel vehicle owners may do so under the individual category, according to a statement released today by the Finance Ministry.
“In accordance with the implementation of targeted diesel subsidy, eligible recipients under both categories will receive BUDI MADANI assistance of RM200 per month,” the statement stated.
During last week’s national speech, Prime Minister Datuk Seri Anwar Ibrahim said that the Cabinet had decided to provide a targeted diesel subsidy that would benefit consumers in Peninsular Malaysia.
The statement states that the individual receiver must be a citizen of Malaysia and the owner of a privately owned diesel car that is registered with the Road Transport Department (JPJ) and is less than ten years old, excluding luxury vehicles.
In addition, the owner’s annual income must be RM 100,000 or less and the cars must have an active road tax.
The statement said, “Applications will be cross-checked with the Inland Revenue Board (LHDN) data to exclude high-income individuals (T20) and owners of luxury vehicles under 10 years old.”
The Ministry of Agriculture and Food Security or the Ministry of Plantation and Commodities must register applicants under the agri-commodity category as small-scale or commodity farmers with annual sales between RM50,000 and RM300,000.
It stated that the online application for BUDI MADANI is available year-round at https://budimadani.gov.my.
It stated that applications approved after June 3, 2024, would receive their first cash aid within two weeks and subsequent aid on a monthly basis. “Applicants approved before June 3, 2024, will receive their first BUDI MADANI cash aid by middle of June and subsequent assistance will be distributed monthly,” the statement stated.
According to the ministry, BUDI MADANI beneficiaries will have their bank accounts credited with help each month. Those who do not have bank accounts, however, can obtain cash assistance at any Bank Simpanan Nasional location.
More details on the BUDI MADANI support are available at https://budimadani.gov.my, by email at budimadani@treasury.gov.my, by calling 1-800-88-2747 / 03-8882 4565 / 03-8882 4566, or by going to LHDN offices.
According to the Finance Ministry, the BUDI MADANI programme is an addition to the government’s ongoing efforts to establish targeted diesel subsidies through the Domestic Trade and Cost of Living Ministry’s MySubsidi Diesel system.
In order to ensure minimal cost impact on the logistics value chain and supply, approximately 90,000 fleet cards have been issued to companies in the land public transportation and land freight transportation sectors. This directly lowers the risk of price increases for necessities by enabling eligible logistic companies to purchase subsidised diesel at petrol stations.
Prior to the implementation of the targeted diesel subsidy, the government has increased cash support to individuals and small-scale and smallholder farmers under the BUDI MADANI programme, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
The targeted diesel subsidy is one of the fiscal reform initiatives included in the MADANI Economy framework, which the prime minister has frequently underlined, with the goal of strengthening Malaysia’s competitiveness and government financial sustainability.
In order to protect the logistics industry and the vast majority of the population, he continued, “BUDI MADANI reflects the integrated efforts of the MADANI government machinery to ensure the targeted diesel subsidy mechanism is comprehensive, efficient, and effective.”