Thursday, June 2, 2011

Selepas Indonesia, Pakistan Pula Turunkan Harga Minyak, Malaysia?


Oil price cut Published: June 2, 2011

The government has reduced the prices of petroleum products: petrol by Rs 1.70 per litre, kerosene oil by Rs 5.05 per litre, and high speed diesel by Rs 3.20 per litre. It is notable that this cut was made only after the decrease in the international market and is not the outcome of the government’s love for the masses.


It is unfortunate that government mismanagement and callousness of the general public’s sufferings enabled oil retailers in the country to profit by charging consumers of high octane blending component at the previously high prices for another day, as the relevant order was not issued on Tuesday. This is a case of unforgivable neglect and must be investigated. 

It is also a fact that whenever the oil prices in the international market go up, our government jacks up the prices in consonance with these new rates, even though that is not always advisable for a third world country’s economy like ours. Conversely, when the rates go down, our government does not lower the prices accordingly but only makes a nominal decrease. And also it is a matter of great shame that the inflation that invariably follows the raise in the oil prices is not brought down when the prices fall. 

Hence, there is reason to believe that the current decrease will only serve as a small help to the consumer and nothing of significance will happen to the prices of the rest of the goods. These are the consequences of blindly following the IMF’s agenda that has dealt blow after blow to the common man’s ability to make both ends meet. If the government is sincere, measures should be taken to bring down the price of transport fares and other essential commodities particularly food items. - The Nation 


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