I think the most anticipated piece of news that many of us will be waiting for tomorrow, would be the announcement for the newly revamped fuel subsidy scheme.
According to Domestic Trade Minister Sharir Samad, the government plan to eventually increase petrol price at the current market rate but subsidies would still be handed out based on an needs-based system. We should have a clearer picture on what this need-based system is about tomorrow.
This is really bothering me. On one side, I am all for an increase in petrol price IF the savings by the government is channeled correctly towards a better infrastructure and education system but an increase to current market price? That would mean that the current petrol price which is at RM1.92 a litre would be eventually raised to almost RM4 a litre come August. I think this is ludicrous since we are are still a net oil exporter. This would be alright if the government scrap car import tax but I doubt that would happen.
Anyhow I am still keeping an open mind. Lets hope tomorrow's announcement won't be too much of a jolt to the system.
7 comments:
the economist said next month it will be $5/per gallon. could be more in august....
last week i've spent $80/week in gas.
Ouch.
Oil prices her just went up 40% overnight. I was on my way back just now and the queue at the patrol station is about a few hundred meters long.
i'm deeply affected with this price increase...it makes me poorer...
this move is just too drastic for me to accept!
Nux,
The oil increase effects everyone. If we are feeling the pinch, imagine the lower income group that will be filling more then just a pinch.
For a net exporter of oil, this is not justified.
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