Malaysia’s Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad announced that the full new subsidy system cannot be decided immediately, as only the initial details will be announced tomorrow, with the full picture to be unveiled later in August.
He also added that the fuel subsidy mechanism could involve the following methods:
a) cash income subsidies
b) quota system tied to MyKad or car registration number.
Currently petrol in our country sells for about RM1.92 a litre, among the cheapest in the region. If petrol is to be sold at full market prices, it could be as high as almost RM4 a litre – about 100 percent above current levels.
With the rising cost of petrol coming up our sleeves in August, I am sure it will affect many business and entrepreneurs to increase their price too.
Imagine you used to pay RM3.80 for a bowl of Wanton Mee in a hawker stall now, and by August, I’m not surprised if they were to charge RM5.00 to RM6.00 by then.
How are we going to cope with the high cost of living and yet our salaries are not increasing according to the inflation?
I guess we all might probably think of cycling to work. Not only we will save on petrol, we can exercise to lose weight. (Hahaha!)
But I scared we would die faster due to inhaling too much of carbon monoxide.
We might even consider of controlling the intake of fast food and start eating at home. It is definitely much cheaper to dine at home. Unless we really do not have the time to cook, then we will have to opt for hawker stalls where food is more economical than those restaurants in shopping malls.
No more Starbucks or Coffee Bean too! Say hello to Teh Ais or Teh O Ais Limau at a nearby mamak. It will be tough for many of us.
What else can we do?
What are the things that you will do to overcome the rising costs?
Tell me. Spill them out here. Let’s discuss.