The new fuel subsidy scheme for RON95 petrol will come into effect mid-2015, while that for diesel will be slightly earlier, said Finance Minister Datuk Seri Najib Tun Razak.
"It is a bit premature (to disclose details) as it is still at a 'request for proposal' stage. We are looking at proposals, which means we will not implement it immediately. As for now, the present system will continue," said Najib, who is also Prime Minister, after attending the 10th World Islamic Economic Forum (WIEF) here on Thursday.
He said the announcement on income-based fuel subsidies made by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah on Monday was just preliminary.
He said the Government was still looking through proposals to determine the best package to be implemented and the public would be fully informed before it came into effect.
Those enjoying subsidies of RON95 petrol and diesel would continue to do so until the Government had finalised the new subsidy rationalisation package.
On Monday, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah announced preliminary details for a new three-tiered fuel subsidy scheme.
He said those earning below RM5,000 per month would receive a full subsidy, those earning between RM5,001 and RM10,000 would get a "partial subsidy", while those earning above RM10,000 a month would not be entitled to a subsidy - The Star online