Thursday, May 26, 2011

Petrol hike deferred

Is this a good news?

We were told many times that the hike is inevitable else the country will eventually bankrupt due to heavy subsidy and high international crude oil price.

Prominent economists are echoing the same tune and urge the government to withdraw petrol subsidy.

We were bombarded with the above since 2008 that we can no longer sustain if current subsidy continues.

And most of us somehow accept it as fact of life, even grumbling privately, we know the day is near.

Now the govt deferred decision on subsidy restructuring aka price hike, what does it really mean?

Does it mean that Malaysia found a sustainable new source of income that allows the govt to continue subsidizing petrol that it once claimed no longer affordable?

Or does it means that the govt did not paint the right picture all these while that in fact the govt can afford the subsidy, just that it wants to test how far we can stay afloat;

Or does it simply means that in order to win the upcoming election, the govt simply defer for the ruling regime's benefit?

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