June 5th, 2008 admin
In yet another twist, the Government has now decided to scrap the fuel ban for Singapore-registered vehicle. Sounds good? The irony is that they will put in place a 40% fuel hike which will affect everyone who lift up the pump in Malaysia. This of course will now includes Malaysia-registered vehicles as well. And you don’t have to rush to the pump now. The price hike starts today, 05th June 2008.
What an unpopular decision but you have to give it to the Government. It is better to contain the Government funds that flows out to fuel subsidies than to go down the path of Venezuela where fuel cost next to nothing and the economy eventually suffers.
The announcement on fuel subsidies thus far are ambigious and there will be a final review in August 08 when a more permanent implementation will be in place. For now, don’t step too much on the gas. Its not cheap anymore!
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Entry Filed under: News and Information