A complete of three,500 petrol stations in Peninsular Malaysia have sustained losses amounting to RM181 million because the floating of diesel gas pricing in June this 12 months, reported The Star.
In response to Bumiputera Petrol Station Operators Affiliation of Malaysia (Bumipeda) honorary secretary Datin Hanny Julia Haron, the subsidy rationalisation for diesel gas in Peninsular Malaysia had confronted operators with a extreme financial problem.
“About 98% of petrol stations are reportedly struggling losses from petrol and diesel gross sales, forcing many to shift their focus to comfort retailer operations in a bid to offset declining gas revenues,” Hanny Julia stated, including that the present development may result in larger unemployment charges and lowered authorities revenues from taxes and levies.
Closures of stations, or scaled-down operations would additionally disrupt native economies, which can have an effect on companies like workshops and different stores, she added.
“The APM should be aligned with the nationwide annual price range to replicate right now’s financial realities,” stating her view that the automated pricing mechanism (APM), which has been in place since 1983, must be reviewed. Hanny Julia additionally raised considerations for confusion and instability because of twin pricing for fuels inside the similar storage tank, as operators are compelled to purchase gas at excessive costs however promote it at decrease costs.
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