Malaysia government sudden move to increase petrol price to RM2.70 yesterday from RM1.92 caught me by surprise as there were earlier reports that fuel prices would only go up in August. The government also stated that it can no longer continue to subsidise fuel and Malaysians could soon by playing market prices for their petrol. Well, I have expected this to happen and it is just the matter of time. And I also don't think the subsidy is going to work in the long run because the petrol is going to be run out one day.
What my concern here is that, Malaysia is still a net exporter of oil, and therefore, when the prices go up, we suppose to be better off. So now the question that the government must address is that now the subsidies has been reduced, where are the saving going to be spent on?? Bulding a transport system that is convenient to public? Subsidy essential food items like cooking oil, rice, flour, etc?
Thursday, June 5, 2008
Surprise with sudden and massive fuel petrol increase
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2 comments:
that's cause Msian govt don't know how to manage expenditure. The irony is that not only is Msia a net exporter of oil, it EXPORTS expensive, low-sulphur oil, and IMPORTS cheaper, high-sulphur oil. So where did all that money go???
Hey Ai Yin!
Nice to see you here. I heard you are doing very well in London.
Cheers, Alvin Tan
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