Wednesday, June 04, 2008

FUEL HIKE BY 40% EFFECTIVE MIDNIGHT

The government has announced a hike of 78 sen on petrol making it RM2.70 per litre compared to RM1.92 previously.

This announcement was made by Prime Minister Datuk Seri Abdullah Ahmad Badawi who is First Finance Minister : http://www.youtube.com/watch?v=NF9PyqbEY6I

The new diesel price is RM2.58 per litre compared RM1.58 previously.

It is expected that every item will eventually increase.

Time to change this BN government.

5 comments:

CaptainCaveman said...

Time for BN government to take a hike!

MD said...

Giving subsidy to anything – is never a good move – especially if we are not facing dumping of products from other countries. Subsidy will lead to many abuses and some people can make illegal billions by manipulating and abusing subsidies.

Such as;

1. fleets of fishing boats in Kelantan and boarder states that is actually buy diesel and just unloaded across the boarder (Without catching any fish).

2. Give subsidies to big factories that consume a lot of petrol/fuel and the company pay back to the subsidy givers in kind (or through oversea accounts).

3.Smuggling rice and cooking oil across the boarder – the smugglers make money and the enforcement officers also will get some. But the country will loose on the subsidies.

Let the market decide on the price of fuel - but must let the free market to flourish. Don't restrict through licensing, monopoly, carter etc... (Direct or indirect barrier). Never repeat the monopoly of sugar and rice importing licenses. Use the antitrust law like the one in US (we have also such law but no tooth).

In conclusion - I could accept the fuel price increase. But please spend the windfall petronas dolar excess on helping the needy - not just to make few people richer - or let petronas absorbed the inefficiency and irregularity in giving tenders and contracts; Just because now Petronas has additional billions to throw around. Or spend on white elephant political projects.

What we don’t want is - the people suffer through the fuel and price hike. And petronas on the other hand is stuffing the windfall excess into few pockets.

MD said...

I quote from Malaysia-today;

"...Dato’ Shahrir Samad memberitahu tujuan sebenar mengurangkan subsidi minyak ini adalah untuk menampung kos pembangunan Negara...gajah putih"

Kalau tambahan RM50 billion extra duit untuk petronas ini digunakan untuk ini...Kita tak sokonglah pengurangan subsidi ini.

tony said...

BN = Barang Naik

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