KUALA LUMPUR: The targeted diesel subsidy has generated savings of approximately RM600 million per month so far, the Dewan Rakyat was told today.

Finance Minister II Datuk Seri Amir Hamzah Azizan said at the same time the inflation rate remains under control and has recently shown a decline, with the Consumer Price Index (CPI) rising by 2.0 per cent in July, 1.9 per cent in August and 1.8 per cent in September.

"The implementation of targeted diesel subsidy has resulted in a significant decline in diesel sales at petrol stations, with a drop of around 25 per cent, or nearly seven million litres daily, reflecting a reduction in smuggling activities.

"The sale of commercial diesel has increased by almost 50 per cent, or four million litres daily, indicating how much the industrial sector has stopped purchasing subsidised diesel from fuel stations," he said in response to Aminolhuda Hassan (PH-Sri Gading).

On the Budi Madani cash assistance, Amir Hamzah said as of Oct 31, more than 140,000 recipients of the Budi Individu (individual programme) and 65,000 recipients of the Budi Agri-Komoditi programme have been approved since June, with a total payment amounting to RM160 million.

Budi Madani is a government initiative to ensure that subsidy allocations are targeted at eligible groups; divided into individual assistance (Budi Individu), farmers and smallholders (Budi Agri-Komoditi), and companies and transport vehicles (MySubsidi Diesel).

https://www.nst.com.my/news/nation/2024/11/1129865/targeted-diesel-subsidy-generates-monthly-savings-rm600-million