Thursday, June 25, 2015

2015 - Start of the Breakdown?

It has been two and a half months since 6% GST was implemented on April 1st and prices of many goods have spiked. All this despite half-baked claims by ministers who preached that prices will remain unchanged and in some goods even reduce.

The timing of this consumption tax could not have come at a most inconvenient time when generally the economy was already flat. Malaysians must be very clueless or very lazy - so docile in accepting anything as FATE!

Fuel (i.e. petrol) subsidy was removed on December 1, 2014 when world prices were at an all-time low. Still we got a raw deal as our pump prices were controlled by government and not a true reflection of real world prices. Today we pay RM2.05 per litre for RON95 and you don't have to be Einstein to know it will be higher in the coming months.

On the Opposition front, the pact of PKR, PAS and DAP is virtually over following PAS reneging on agreement not to impose Islamic law. All this is good news to the ruling coalition and we wonder if the next election (GE14) will matter.

Oh well, that's life!

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