The government has announced that petrol price will go up by 78 sen at midnight - a 40.6 percent jump from RM1.92 per litre to RM2.70.
"Effective from tomorrow, June 5, 2008, the price of petrol will be raised by 78 sen and the price of diesel will be raised by RM1," Prime Minister Abdullah Ahmad Badawi told a press conference.
The price of diesel will increase by a whopping 63.3 percent - from RM1.58 per litre to RM2.58.Since 2004, petrol has gone up by 97.1 percent, while diesel increased by a whopping 231 percent.
My comment:
The BN government is trying to squeeze the people dry during this time of slow economy and high inflation. It is like killing the goose for the eggs, if you may, because the 40-63% increase of fuel prices would squeeze any liquity left out of the market and the confidence of the general public.
The drastic increase only show that the country state coffer is dried out and the central government has no money left after decades of corruption and mismanagemnet. The BN government has never shown the people where the oil money has been spent and has never accounted fot billions of oil money spent.
The second finance minister has told us that with every 1 USD increament in the international cruel oil market, Malaysia will enjoy a winfall or RM 250, 000, 000!
That proves that the present cruel oil price of some USD 125 will give Malaysia additional RM 15, 000, 000, 000! compared to the year 2006.
Yes, Malaysia doesn't have any natural disaster, but the man-made or government managed disaster surely is as severe as the Cyclone in term of damages and suffering by the poor and low income group.
If Malaysia becomes bankcrupt, it will not be caused by the fuel susidies but from corruptions and mismangement of the country economy by none other than the BN!
5 comments:
It has been quite some time I visited your blog. Time to raise salaries and fix the minimum wage.
How, when businesses and small and medium industries are all in the red?
Timing is not right yet, especially when many businesses would close down after this "cyclone" of fuel prices hike takes it effect in the coming months.
Sign, a vote to the BN is a vote for fuel prices hike, the opposition is damned right!
Sometimes people think that Malaysia or Malaysians are so rich. This sort of scenario makes us wonder if Vision 2020 can be achieved; meaning a first world, developed, industralized nation. Petrol increase, everybody rushed to the petrol station. Rice increase, everybody cry.
Thank you all for your imput. The ordinary folks were shocked by the steep prices increase of fuels and rice and they simply can't accept the situation.
As we can see from the table of the oil prices in other oil producing countries which i have posted here, the steep increase in Malaysia is unconsionable and is outright "daylight robbery" by the BN.
I just came back from the Bernas's storeyard in Sibu together with Wong Ho Leng (dap sarawak chairman) and other comrades. We were there as the rice vendors of central Sarawak have staged a peaceful rally in protest of abuse and lack of transparancy by Bernas.
Anyway, i feel that there are more protest and rallies in the following days to come.
David Wong
6-6-2008
Lim Guan Eng: Do away with gas subsidies for IPPs
The federal government and Petronas, both of whom advocate subsidy cuts for ordinary people, should do away with gas subsidies given to independent power producers (IPPs) and supply more gas to industrial sectors across the country, including Penang.
Penang Chief Minister Lim Guan Eng said that the federal government could save an estimated RM13.7 billion yearly by doing away the IPP subsidies.
The money, said Lim, could be channelled to provide more incentives and supply more gas to boost the industrial growth in all states.
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