by Dr. Chen Man Hin
AS AN OIL PRODUCER, MALAYSIA MUST USE ITS OIL INCOME TO BOOST THE ECONOMY AND RELIEVE THE SUFFERING OF THE PEOPLE. THE CABINET MUST BRING DOWN PUMP PRICES IMMEDIATELY.
The cabinet should not dither any more on the critical issue of bringing down pump prices. It must NOW act to bring down the price of pump oil immediately.
The economy has slowed down considerably since the price of pump oil was increased by 42% from RM 1.98 to RM2.70 per litre. All sectors of the economy have been affected, The manufacturing industries, transportation, tourism, hotels, restaurants, shops and even markets have been affected bady because of the high increase of oil by government.
The construction industry is badly hit because of the rapid and huge price increases for steel, concrete and other building materials. Many contractors have surrended back their contracts to govenment and developers. Continue reading “Pump prices of oil should be reduced to old price now”