We urge the Malaysian Government to improve its monitoring mechanism against
inflation, including the ways to manage petrol and diesel prices, so as to
reduce the burden on the people.
by Dr Tan Seng Giaw
(Kuala Lumpur, Monday):
The world crude oil
price of over US$70 per barrel causes much concern. What are the
measures to be taken by the Government? Consumers are worried about
the rumour on the further increase in petrol price.
Since May and July this year, Malaysian petrol and diesel prices have
gone up twice. The Prime Minister said yesterday that the Cabinet
meeting on July 7, 2005, will discuss prices of goods, including the
call to abolish road tax and reduce toll rate on our roads, thus
lightening the burden on the public. We hope that the Government would
not increase oil price further and that it would seriously consider
the measures on road tax and toll rate.
Now, business is not good. Prices are going up and the inflation rate
is over 3%. We truly need to revamp the monitoring mechanism on
The crude oil hike affects the cost of production and increase the
price of imported materials, reducing our competitiveness. Further,
demand by industrial countries such as Japan, US and European Union
may go down.
The Cabinet meeting on Wednesday should decide on interest rate,
appreciation of the ringgit and the various measures to relieve the
difficulties faced by the people.
Tan Seng Giaw, DAP National
Deputy Chairman and MP for Kepong