Cash rebates end next month

KUALA LUMPUR: The cash rebate system for vehicles under 2,000cc, which was implemented in June last year, will end on March 31, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad confirmed.
He said this was because the cash rebate system had completed its one-year cycle, which was the initial plan.
“March 31 is the last date. We will end it in March,” he told reporters after launching the “Malaysian Products are Our Choice,” and “Buy Malaysian Products” campaign here Tuesday. The campaign will last until March 1.
“Whoever has yet to collect their cash rebates, please do so,” he added.
On the Government’s plans for future subsidies, and if the cash rebate system would be implemented again, Shahrir replied:
“I don’t think we’ll be using this method of subsidising again, because I see that Malaysians prefer subsidised pump prices.
“They seem to prefer lower pump prices rather than having money given out to them,” he said, adding that about RM5bil would have been disbursed by March.
He also said the Government planned to set the value of RON95 petrol at RM1.70 when it is introduced in the middle of this year.
“We want to give consumers good value for their money. Now you’re paying RM1.70 for RON92, we’re planning to give RM1.70 for RON 95 as well.
“So you get better quality petrol at the same price as RON 92. RON 97 will still be there too, but we haven’t decided on the pricing,” he said.

tunku : the cash rebate system was a disaster system for all malaysian.it did not benefits all.if the government had not increased the petrol price extremely high last year, the prices of goods too had not increased tremendously. now the petrol price is cheaper but the goods are still the same.it is very hard for sellers to reduce their goods prices but easy for them to increase.this is where wise and smart decision is important for the nation and the person who came out with this lousy system made life difficult for many.