Talking Thru His @$$ Again. Car Prices Up Due To Electricity Rates Up, Egg Prices Up 10%

 

OSTB : Folks here are the latest kuda liar pronouncements by the fellow in charge of the economy:

• prices of raw ingredients (declining)
• prices (of ingredients) decline but not prices of restaurants
• prices charged by restaurants remain same
• denounced restaurant refuse to lower prices despite falling cost 
• bring down prices in line with ingredients
• electricity rates maintained

OSTB : This is not true. The GOMEN has just increased the ceiling price of eggs to 45 sen per egg - up from 41 sen per egg. That is an increase of 10%. Since eggs are used in so much food preparation certainly the selling prices of cooked food has gone up. 

Then because of the hike in elctricity tariffs (surcharge of 30 sen per kwH) the prices of cars has also increased:

• 20 January 2023  
• Car prices up due to electricity tariff hike, says Malaysian Automotive Assoc
• MAA said hike in electricity tariff increased car prices

Medium Voltage and High Voltage industrial users have to pay that 30 sen per kwH surcharge. So motor vehicle prices have gone up. Transportation charges will all go up (Lori sayur, lori ikan, van etc).

Here is something stranger from the same fellow :

best to have economic system where checks and balances between politicians and economists in order to take into account all factors

“If we leave things only to the politicians, they would make decisions at the people’s behest. Sometimes what the people demand are the best for the country, and sometimes they are not so good for the long term,” he said.

This is kuda liar economic theory. You cannot find these economic "thinking" in any economic textbook in the world. Dia sendiri tak faham apa dia cakap.

Just leave things to the market. The market will decide.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.