Ravinder Singh | 20 sen fuel hike – what it means to different people
To the rich, it means fuel in Malaysia is still cheaper than in other countries in the region. The increase means nothing to them. They can happily pay for it.
To the lower income group and the poor, it means a further tightening of the belt to make ends meet on devalued money as a ringgit will get less than before, but they don’t earn more ringgit to offset the decreased value of the ringgit.
To the business people it means an opportunity to increase profits as prices would be increased in round figures that are higher than the actual percentage increase in the costs of transportation and production of goods. They are not going to do charity and absorb the price increases though the government will be saying that there won’t be unfair price increases or that businesses would absorb some of the increases if not all. This is the tune consumers have heard over and over but which has never been true.
To Domestic Trade, Cooperative and Consumerism Minister Hasan Malek the 20 sen increase is a commendable move and the people should congregate to congratulate the government as the increase is to ensure the nation's coffers are not depleted.
Read more here: http://www.malaysiakini.com/letters/276634
