PDAM president Khairul Annuar Abdul Aziz said the dealers were optimistic following yesterday’s meeting with Prime Minister Dr Mahathir Mohamad, where he said they had raised their concerns about the system.
“We are waiting for an official announcement from the Cabinet. Mahathir is looking at the matter,” he told FMT.
He added that he had forwarded all concerns and complaints from the dealers to Mahathir, and expressed gratitude to the prime minister for taking a personal hand in the matter.
He said PDAM hoped the government would implement a three-week or monthly float system which would allow dealers enough time to sell their stock according to the price at which it was bought.
He voiced concern that if the government continued with the weekly float system, dealers who bought their stock at a higher price would have to sell it for less if prices dropped the next week.
The government decided to delay the implementation of the controversial weekly float system following fierce objection from PDAM.
Fuel prices, including for RON95 petrol, were supposed to be fixed on a weekly basis beginning Jan 1.