Read Jeff Ooi’s blog HERE.
“In summary, the Finance Minister stated that…
Untuk makluman Yang Berhorbat, subsidi yang ditanggung oleh Kerajaan Persekutuan pada tahun 2007 adalah sebanyak RM43.4 bilion. Daripada jumlah ini, sebanyak RM16.2 bilion adalah untuk subsidi produk petroleum (termasuk cukai terkorban RM7.4 bilion) dan RM18 bilion untuk subsidi harga gas kepada sektor elektrik dan industri. Manakala sebanyak RM9.2 bilion untuk pelbagai bantuan kepada rakyat…”
Bravo to Tony for asking the question. Now we know the true picture. The subsidy actually paid by the Government is NO WHERE near the RM43.4 billion. The actual subsidy paid for fuel is only RM8.8 billion (RM16.2 b - RM7.4b). The RM7.4 billion does NOT cost us any money, anymore than say, not taxing the 9 million working-but-not-taxpaying population cost us any money. It’s an opportunity cost. We do not measure our wealth using opportunity cost.
The biggest users of subsidy are actually the Independent Power Producers (IPP). So the increase in fuel prices has not addressed this AT ALL. The Rakyat has been taken for a ride yet again by the wonderful statisticians employed by the Government using the Rakyat’s and Petroleum money…
The average Rakyat has to suffer while the shareholders of the IPPs, many of whom are already listed as the richest Malaysians in the FORBES list released recently, continue to add to their immense wealth…
I’m DISGUSTED!!!….