The new targeted petrol subsidy scheme, which was supposed to kick off on Jan 1, 2020, has been suspended indefinitely.

In a statement today, Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail said the government needed more time to brief the public on the scheme.

He said more time was also needed for the M40 group to register as subsidy recipients. This was being handled by the Finance Ministry.

RON95 price has been capped at RM2.08 per litre since February while Putrajaya devised a new targeted subsidy scheme, promised in the Pakatan Harapan election manifesto.

Putrajaya has announced two separate schemes. The first is conducted by Saifuddin's ministry, which will subsidise those who are receiving Bantuan Sara Hidup cash handouts RM30 a month if they owned certain types of vehicles.

Another scheme involved the M40 group (RM4,000 monthly income and below) who will receive a "K95" card that will entitle them to RON95 petrol subsidy of 30 sen per litre, capped at 100 litres for cars and 40 litres for motorcycles.

This scheme is being handled by the Finance Ministry.

For either scheme, only cars with a 1600cc engine capacity or a car over 10 years old with an engine capacity above 1600cc are eligible.

As for motorbikes, only those which have an engine capacity of 150cc and below or are over seven years old with an engine capacity of 150cc and above are eligible.