The Ministry of Finance has announced the implementation of the Madani subsidy assistance programme, also known as BUDI Madani. This targeted diesel subsidy programme involves private owners of diesel vehicles and agriculture smallholders in Peninsular Malaysia and will be effective starting June 2024.
According to the ministry, private diesel vehicle owners can apply for BUDI Madani under the BUDI Individu category, while agriculture smallholders can do so under the BUDI Agri-Komoditi category. Those who are entitled to the BUDI Madani programme will receive up to a monthly sum of up to RM200, in parallel with the implementation of the targeted diesel subsidy.
Below are the applicants’ criteria for the BUDI Individu category:
- Malaysian citizen
- Owner of private diesel vehicles registered under the Road Transport Department (JPJ), with luxury cars under the age of 10 being the exception
- The vehicle has an active road tax
- Annual income of RM100,000 and under (individual’s or spouse’s)
RELATED: Hold off on that EV deposit, hydrogen FCEV incentives might be coming to Malaysia
Below are the applicants’ criteria for the BUDI Agri-Komoditi category:
- Registered farmer or smallholder with agencies under the Ministry of Agriculture and Food Security (KPKM) or the Ministry of Plantation and Commodities (KPK)
- Able to demonstrate an annual turnover of between RM50,000 and RM300,000 from farming or commodity production
Applications for the BUDI Madani programme are now open and can be made online via the BUDI Madani webpage, which the Ministry of Finance says will be open throughout the year. For applications made and approved before June 3, 2024, the relevant applicants will receive their first payout starting mid-June 2024, with subsequent payouts taking place on a monthly basis thereafter.
As for applications made and approved after June 3, 2024, applicants will receive their first BUDI Madani payout within two weeks, with the subsequent payouts taking place on a monthly basis thereafter. The BUDI Madani financial relief will be credited to the recipient’s bank accounts of choice or can be drawn out in the form of cash at any Bank Simpanan Nasional (BSN) outlets across Peninsular Malaysia for those who don’t own a bank account.
RELATED: MOT: Malaysia’s new EV road tax structure to be unveiled by April 2024
