The Word Of The Day

Petrol prices HAVE increased by 40% to RM 2.70. Inflation to rise from a current 3% to 5%, WITH petrol subsidies expected to be removed further in August. On another note, here is what I picked up from Lim Kit Siang's (Malaysian opposition leader for the DAP party) blog

“On Monday, 25th June 2007, Malaysian Trade Union Congress (MTUC) staged a 14-location nation-wide picketing by thousands of workers after discussions with the government on its campaign for a minimum wage of RM900 a month and cost of living (Cola) of RM300 for private sector employees came to a deadlock.

“A week earlier, MTUC presented a seven-page memorandum to the Prime Minister asking for minimum wage and Cola for the private sector but did not elicit any appropriate response.

“According to an MTUC study, some four million out of the 10 million workers it represents are earning below the poverty line. Even in Johor Baru where cost of living is extremely high, industrial workers are paid as low as RM390. Even five-star hotels in Kuala Lumpur pay a basic wage of RM290 per month to cleaners and waiters.

Did I also mention to you that electricity prices have increased?

On another note

As reported in the Star May 2008

Saturday May 31, 2008
Najib quashes talk of petrol price increase

PUTRAJAYA: Datuk Seri Najib Tun Razak has brushed off speculation that petrol prices will increase by 40 sen following the government’s plans to restructure the subsidy system, including the petrol subsidy.

The Deputy Prime Minister said it was untrue and baseless, particularly when the Cabinet had not discussed subsidy restructuring at its weekly meeting yesterday.

“There's a lot of speculation and talk going around.

'But none of it holds water. The public should not listen to rumours,” he said.

And another note

As reported on April the 3rd

Thursday April 3, 2008
No petrol price hike in accordance with people’s wish
Comment by V.K. CHIN

DATUK Seri Abdullah Ahmad Badawi said last week there would be no increase in the petrol price, since this was the wish of the people. The Prime Minister said his administration had accepted and recognised the strong message of voters as reflected in the result of the 2008 general election.

Prices of petroleum products, such as petrol, diesel and natural gas have always been associated with rising costs of consumers goods and, hence, an increase in the cost of living.

Pak Lah could have given this assurance during the election campaign but did not because the cost of fuel is dependent on the global price of crude oil, which is beyond the control of any government.

Rumours huh...