Wednesday, November 19, 2008

So that means subsidy or no subsidy? - www.malaysiakini.com

The government may dump its petrol subsidy scheme altogether as consumers are already paying more than the full cost at the pumps at current price level. Domestic Trade and Consumer Affairs Minister Shahrir Samad yesterday revealed that the government no longer need to subsidise petrol with the drastic fall in global oil prices...He said that at current prices, the government is making about 30 sen per litre..."I would be happy to have a floor price of 1.92 ringgit. This would allow the government to earn some revenue and it is also easier to manage the price," he said. "It is also a better option because we can use the savings for development or to reduce the deficit." (Source: Consumers already paying more than full cost - Malaysiakini)

Well, latest from The Star Online - No plans to abolish fuel subsidy: Shahrir. Hmm...okie. So that means subsidy or no subsidy? I'm confused lah. We have no choice but to pump petrol and now we still have to pay more than the full cost at the pumps when the govt and petrol stations still make money. Ahh...talk about savings for development? Develop what? Public transport? Dream on...8-/

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