Latest news with #LiquefiedPetroleumGas
Bloomberg
a day ago
- Business
- Bloomberg
India's Nifty in a Rut as Valuations Stall Recovery
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. Indian equities look set for a muted start this morning, tracking a narrow range in Asian markets amid uncertainty surrounding US-China trade negotiations and concerns over stretched local valuations following the recent rally. Adani group stocks may be in focus after the Wall Street Journal reported that US prosecutors are probing billionaire Gautam Adani's conglomerate for importing liquefied petroleum gas from Iran through the Mundra port in India, a report Adani flagship has denied.
Business Recorder
4 days ago
- Business
- Business Recorder
Govt working to lift ban on new gas connections, says minister
Federal Minister for Petroleum Ali Pervaiz Malik said on Friday the government was working to lift the nationwide ban on new gas connections, as he acknowledged the safety concerns over the use of Liquefied Petroleum Gas (LPG) gas and incidents of cylinder explosions. 'Prime Minister Shehbaz Sharif and I have already discussed the issue of lifting the moratorium (on new gas connections)…we are to meet again with the resolve to end the ban soon,' said Ali Pervaiz Malik while talking to the media during his visit to the Sui Southern Gas Company Limited (SSGC). He said the government was aware that households and commercial customers were using expensive LPG gas despite having safety issues and risk of explosions associated with the use of LPG cylinders. The government announced moratorium on new gas connections in December 2021 and implemented in letter and spirit from March 2022. SSGC issues gas supply schedule for Ramazan 2025 According to a SSGC press statement, Minister Malik said that the energy sector 'is just like oxygen to the economy and they are taking initiatives to keep the supply and tariffs in line with the international market'. 'Early signs of recovery in key sectors have started showing up, but for that we need to maintain the same momentum and stability while moving forward,' the minister was quoted as saying in the SSGC statement. The issues related to downstream and upstream sectors were being worked on by the PM and the ministry, he informed. 'We are taking concrete steps to alleviate citizens' sufferings in the upcoming budget.'
Rakyat Post
4 days ago
- Business
- Rakyat Post
No More Cheap Gas For Businesses — Will The Public End Up Paying More?
Subscribe to our FREE Starting 1 May 2025, the government officially rolled out a new policy restricting the use of subsidised Liquefied Petroleum Gas (LPG) to households only. This means businesses — including restaurants, cafés, and even small roadside stalls — are no longer allowed to use the familiar orange household gas cylinders. The move comes under Ops Gasak, a strict enforcement initiative by the Ministry of Domestic Trade and Cost of Living (KPDN), launched as part of KITA GEMPUR, a nationwide effort to combat misuse and smuggling of government subsidies. First introduced on 19 October 2024, the campaign aims to ensure only eligible users benefit from subsidised products. What Does Ops Gasak Mean for Businesses? Under Ops Gasak, all businesses must switch to commercial-grade LPG cylinders, easily identified by their new purple colour. These 14kg cylinders are priced at RM70 each — nearly three times the cost of household cylinders, which remain at RM26. KPDN Minister Datuk Armizan Mohd Ali explained that any business using 42kg or more of LPG per day (roughly more than three cylinders) must also apply for a permit under the Control of Supplies (Amendment) Act 2021. The government initially planned to implement this change back in 2019, but enforcement was postponed — until now. Why the Change? According to the ministry, this initiative is meant to curb illegal use of subsidised gas by commercial entities and prevent smuggling across borders. By targeting these loopholes, the government hopes to better direct subsidies toward households who truly need financial assistance. Impact on Small Food Businesses — and You While the goal may be noble, many are questioning the impact this move will have on small food businesses already grappling with high operational costs. With gas prices tripling, food operators may be forced to increase their menu prices to stay afloat. A viral The Big Question: Will This Lead to Higher Food Prices? Only time will tell how the market reacts to this shift. For now, one thing is clear: the era of cheap gas for businesses is over — and everyday consumers might feel the heat. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Daily Express
27-05-2025
- Business
- Daily Express
‘My duty as rep to defend Sabahans'
'My duty as rep to defend Sabahans' Kota Kinabalu: Warisan Vice President Datuk Junz Wong said his recent remarks on the Liquefied Petroleum Gas (LPG) regulation were grounded in Sabahan grassroots' concerns and not driven by political motives. He said it is his responsibility as an assemblyman to speak up for his constituents, particularly when they face difficulties arising from policies implemented by the relevant ministry. Advertisement 'My questions were directed to you because you are the relevant Minister, a Sabahan, and also a GRS leader. Naturally, I expect you to understand the high cost of living that Sabahans face,' said Wong, in response to criticism from Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali. Wong said his mention of the GRS government was directly linked to Armizan's role within it. SPONSORED CONTENT 'In this case, it's about the 'removal' of subsidised LPG for small businesses. If even raising Sabahans' concerns is labelled as politically motivated, are we saying elected reps should stay silent? he said. On Armizan's statement that the regulation was based on a 2021 amendment under the previous administration, Wong questioned the timing of its enforcement. Advertisement 'If this law has existed since 2021, why enforce it only now? And why wasn't there a public explanation before enforcement began?' Wong said the central concern was about small food vendors now being required to apply for permits if they store more than 42kg of LPG at any given time. Advertisement Let's apply simple logic. Are you saying small vendors only use three 14kg cylinders per month? 'That's hardly enough for any business. This isn't about big players, it's about our hawkers, kopitiams and local food stalls,' he said. He questioned whether the policy applied only to storage above 42kg at one time, or total usage over a month, and asked what would happen to vendors who exceed that limit, whether they would be forced to switch to unsubsidised cylinders priced at RM76. Wong warned that such enforcement could compel vendors to increase their prices, further burdening consumers. 'Sabahans can't afford another round of price hikes. If the cost of LPG rises from RM26.60 to RM76 per cylinder for vendors, how can they maintain current food prices? In the end, it's the people who suffer,' he cautioned. He urged the Ministry to engage constructively and find a fair solution.
Daily Express
24-05-2025
- Business
- Daily Express
Armizan dismisses claim on gas cylinder subsidies
Published on: Saturday, May 24, 2025 Published on: Sat, May 24, 2025 By: Hayati Dzulkifli Text Size: Armizan (left) described the claim by Warisan's Datuk Junz Wong (right) as 'totally baseless'. Kota Kinabalu: Domestic Trade and Cost of Living (KPDN) Minister Datuk Armizan Mohd Ali denied the allegation that the Government had abolished gas cylinder subsidies for food outlets using more than 42kg of Liquefied Petroleum Gas (LPG). He described the claim by Warisan's Datuk Junz Wong as 'totally baseless'. 'The State Government has no jurisdiction over LPG regulation. It's under the purview of the Federal Government,' he said. He pointed out that any food vendor or stall operator simply needs to apply for a Controlled Goods Permit (PBK) if their LPG usage exceeds 42kg or three cylinders. 'This requirement is in line with the Supply Control Regulations (Amendment) 2021, which came into force on Oct 15, 2021, during the previous federal administration. 'This gazetted regulation requires any party storing (using) more than 42kg of LPG at their premises to apply for a PBK, as LPG is a controlled item. Advertisement 'Those who do not store or use LPG above that limit are not subject to the PBK requirement. 'I don't think many food outlets need to store or use more than 42kg of LPG, unless they're running large-scale operations,' he said after officiating the Festive Season Maximum Price Scheme (SHMMP) in conjunction with the Kaamatan Festival and Gawai Day at Pisompuruan hall, at Kg Kobuni, Inanam, Friday. Armizan said the document Junz claimed to be a compound notice was in fact a Premises Inspection Statement – a standard document used by KPDN enforcement officers during routine inspections. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
