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Fuel subsidy cut just the start, ex-NST boss predicts

KUALA LUMPUR, Sept 3 — The fuel subsidy cuts announced yesterday are a harbinger of more painful measures to come, according to former New Straits Times (NST) editor-in-chief Datuk A. Kadir Jasin.

Saying that this was the way of elections, with politicians’ many promises made beforehand, the newspaper veteran suggested that the public brace themselves for further hits once the Budget is announced next month.

“Let us not be too surprised if our financial burden does not end here. Wait for Budget 2014 soon,” he wrote on his blog today.

Yesterday, Prime Minister Datuk Seri Najib Razak announced that fuel subsidies for RON95 petrol and diesel will be cut by 20 sen a litre beginning today, in a bid to slash the government’s subsidy bill and trim a chronic budget deficit.

Last week, the government also appeared to signal that a long-delayed goods and services tax (GST) could make its way into the Budget that Najib tables on October 25, after one senior Treasury official said its introduction was now a necessity.

Today, Kadir also said Putrajaya must be transparent in showing how savings from yesterday’s fuel subsidy cut will be used, in order to address the perception of its financial profligacy.

Pointing out that the decision to raise pump prices for both RON95 petrol and diesel will financially burden the public with higher prices elsewhere, Kadir said a failure to inform the people how the money is used will make it appear that the government was simply shifting its problems onto its citizens.

“From the outside, the government appears spendthrift. Travel expenses from Prime Minister Datuk Seri Najib Razak’s trips abroad since five years ago is already RM44.07 million!

“And how much was spent on renovations and repairs at the official residence?” he wrote on his blog today.

The RM44 million amount was revealed in Parliament in July.

Najib yesterday said the subsidy rationalisation exercise will save the government RM1.1 billion this year and possibly RM3.3 billion in 2014 should oil prices remain stable.

Malaysia runs a relatively high government debt of 53 per cent of gross domestic product and has one of Asia’s highest household debt levels.

Ratings agency Fitch cut its outlook on Malaysia’s A-minus sovereign debt to negative from stable in July, citing a lack of reform to tackle rising debt.-TMM

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genesis81 , yes indeed, anytime now.

Janji di tepati olih UMNO/BN!

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MARKET ON THE DECLINE NOW, PLAY SAFE.

ladzatz, JANGAN GUNAKAN AGAMA DI SINI, FAHAM????......."apa lagi ladzatz mau?"

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Janji di tepati olih UMNO/BN!

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ladzatz, be a good Muslim and not otherwise, now "apa lagi ladzatz mau??"

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Probably they have over-used funds during elections and remaining already parked somewhere. Due to greediness and short of funds, they retort to squeeze rakyat for more. 1st the petrol hike, next the GST and more to come. This barang naik govt where got benefit. Fool the nation by asking people opinion for budget day, purely bullshits, they decide without due consideration. Scrap the budget day. Paint inaccurate pix and most of the time, over the amount budgeted for. (incompetence leader and poor funds managing, that's what rakyat see in present govt)

It's expected that the rakyat will pay for the corruption, decadence, extravagant and opulent lifestyles of those group of corrupt umnoputras, bn ministers, govt officials and cronies. Those stupid voters of 48% must be the ones paying for the price hikes instead of those 52% voting for the opposition. You bastards reap what you sow.

Petrol and diesel price hikes will really hurt most Malaysians but is only a cosmetic fix for the economy

mmtalents ..

in reverse..
Rich -> Super Rich
Super Rich -> Mega Rich
Mega Rich -> ????...to....UMNO CRONIES

Malaysia Boleh.Janji di capati! Nambikai everyone.

The Fuel Adjustment Factor will kick in, leading to container hauliers raising the surcharge to 18.2 percent of the tariff rates....more to come.

Hopefully UMNO goons don't blame on the Chinese Tsunami for the petrol and diesel price hike.haahaahaa

Foot your own fuel bill, PKR tells ministers, deputies

PKR wants ministers and their deputies to pay for their own petrol and show solidarity with the people.

The party’s strategic director, Rafizi Ramli (pic), said this would ensure that they “understand the suffering of the people”.

“If all of us have to shoulder the burden, this is the least they can do. They can do this immediately,” he said at a press conference at the PKR headquarters today.

Ministers and deputy ministers have petrol allowances, paid by the government, while on official duty.

Before and during the PRU13, the bn gomen shouted we have tons n tons of money. Projects promised left right and bn have the best policies we r prudent n all the kampong talks etc. Now once in power you practice your bn slogan...barang naik!!!! What is this crap? Stop corruptions and prostitution of rakyat's needs! Do the PR things listen to the voices of the majority simple as that! remember 52% voted for PR and najib u should

It's expected that the rakyat will pay for the corruption, decadence, extravagant and opulent lifestyles of those group of corrupt umnoputras, bn ministers, govt officials and cronies. Those stupid voters of 48% must be the ones paying for the price hikes instead of those 52% voting for the opposition. You bastards reap what you sow.

Hafiz Millip , do you think that Rating Agencies give a Negative Ratings purposely. They must have got their facts right & not like so many stupid & idiotic UMNO/BN supporters who thinks otherwise.

Our debts is now more than few hundreds of billions $$$$$ & just recently 1MDB has racked up borrowings of more than US$11.97 billion (RM38.4 billion)...you think this is good for the ratings? Our ringgit had depreciated significantly & you are playing dumb?? What's the Ringgit compare to the Singapore Dollar now compare to our beloved late PM Tungku Abdul Rahman's premiership??

Janji di capati! Nambikai everyone.

And to those rascal & stupid Malay & Chinese UMNO/BN supporters, go ahead & flag my post. You did a great job of showing your stupidity here by doing this. I presume your parents doesn't teach you this??

The 1Malaysia PM says that it won't hurt much and the BR1M (Bantuan Rakyat 1Malaysia) would cushion the increase of RM0.20 in RON95 and diesel. Is that true?

We are already feeling the pressure of inflation due to our depreciating ringgit. What is more frightening would be the implementation of GST (Goods and Services Tax) and the much anticipated increase in electricity tariffs in the very near future.

Without fail that would get inflation spiraling to new heights. As it is now, the ringgit is not an internationally easily available currency. Trying to get ringgit overseas is like hunting for a rare currency. Not many want to take the risk to trade in an unstable and depreciating currency.

We are going to face hard times so get prepared for the painful adjustment to a lower standard of living as the cost of living goes up without a corresponding increase in spending power. Simply put, we are getting poorer with a lower ringgit due to our excesses, corruption, capital flight, declining competitiveness and high level of debts.

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Prime Minister Najib Tun Razak should declare that the government will not increase gas and electricity charges for the next one year, PKR strategy director Rafizi Ramli said today.

“To alleviate the anger of the rakyat, he should also order all his ministers and deputy ministers to pay for their own petrol and diesel that is now being paid for by the government,” he said at a press conference at the party headquarters today.

Rafizi also challenged Rembau MP and Umno Youth chief Khairy Jamaluddin for a debate on the recent petrol price hike.

“I am sure he would be up for it, as long as he is not hindered by Umno,” Rafizi said.

Prime Minister Najib Tun Razak yesterday announced a 20 sen increase for RON95 petrol and diesel effective 12am today.

Now the snowballing effect going to happen because of RON95 naik 20 sen.The increase in the price for RON95 petrol and diesel will see a hike in cargo fuel surcharge while the Pan Malaysian Bus Operators want fares to be adjusted.

Now the snowballing effect going to happen because of RON95 naik 20 sen.The increase in the price for RON95 petrol and diesel will see a hike in cargo fuel surcharge while the Pan Malaysian Bus Operators want fares to be adjusted.

Hafiz Millip , do you think that Rating Agencies give a Negative Ratings purposely. They must have got their facts right & not like so many stupid & idiotic UMNO/BN supporters who thinks otherwise.

Our debts is now more than fewhundreds of billions $$$$$ & just recently 1MDB has racked up borrowings of more than US$11.97 billion (RM38.4 billion)...you think this is good for the ratings? Our ringgit had depreciated significantly & you are playing dumb?? What's the Ringgit compare to the Singapore Dollar now compare to our beloved late PM Tungku Abdul Rahman's premiership??

What do you think of the government's habit of raising petrol prices on a very short notice?

Thank you BN! Janji ditepati. Rakyat didahulukan. So pay first.

what a wonderful government we have.......just love to increase the people's burden....

Did anybody question why the increase is SO IMMEDIATE AS IN TODAY ANNOUNCED, EFFECTIVE IN LESS THAN 24 HOURS other than could it be because the BN GOVT is REALLY REALLY OUT OF MONEY!

Few weeks ago we are struggling on Riggit depreciation, now we have petrol price up, what is next on the road map from the government? I guess would be GST....be prepare that next time for those who want to buy car would have the pay extra 7% on the GST.

Hopefully UMNO goons don't blame on the Chinese Tsunami for the petrol and diesel price hike.haahaahaa

mmtalents

mid income -> downgrade to low income
low income -> poor
poor -> hard core poor
hard core poor -> ????.......to....tunggu mati

Janji di capati! Nambikai everyone

Now it is the time for BN to spread its wings and reveal its true colour to all those whom had voted BN. Next to follow the increase and to be justified by BN could be the electricity tariff, water and many more to come. Is this called Rakyat Di Dahulukan? It is more accurate to say Rakyat Di, " Tai Lan Ngong", kan ! May God bless the citizens of this country.

No price cut when global oil prices slumped, so why increase now???

Just wait a little longer, you will know the truth how cruel are they? Petrol hike is only the appetizer, once you get to the main course, will you know the burden. I will expect Electricity tariffs to be the next, then Renewable Energy, GST, water, etc..

This is the begging of the doomsday leading to bankruptcy in M'sia.
Inflation is going straight up , business closing & unemployment increases.
This is going to bleed the ordinary folks to physical or mental sickness.

It will affect everyone. Goods prices will go up. Does the BN cares? Not at all. They don't feel the pinch because they already have money for next couple of generation - duit haram.

RON95 NAIK 20 SEN, MERDEKA MERDEKA MERDEKA GIFT!

*QATAR-20th producer Petroleum reserves- 16billion barrel Population-1.696million Petroleum reserves percapita-9,430 barrel per person/citizen. Petrol price per liter-RM0.671/liter(RON95).

*OMAN-24th producer Petroleum reserves- 6.1billion barrel Population-2.845million Petroleum reserves percapita- 214.411barrel per person/citizen Petrol price per liter-RM0.95/liter (RON95).

*EGYPT-28th producer Petroleum reserves- 2.7billion barrel Population- 80million Petroleum reserves percapita- 33.75barrel per person/citizen. Petrol price per liter-RM0.86/liter(RON92), RM0.951/liter(RON95).

*MALAYSIA-27th producer Petroleum reserves- 3.1billion barrel EXCLUDED newly-discovered Teluk Ramunia (ultra-huge 1000hectare Pengerang’s oil field) Population-27.5million Petroleum reserves percapita- 112.727barrel per person/citizen. Petrol price per liter- RM2.10/liter (RON95)!

WHY OUR PETROL PRICE IS HIGHER THAN EGYPT?

WHY OUR PETROL PRICES HIGHER THAN OTHER PRODUCER?

WELL, GOV IS HIDING SOMETHING!
OF COURSE!

AND THE ANSWER FOR ALL QUESTIONS IN MALAYSIAN MIND IS……………….DR MAHATHIR’S DEBT!

ELECTION OVER, WHAT NOW? SAPU RAKYAT LAH...JANJI DICAPATI..