FOLLOWING the recent misleading report by Bloomberg over the opening of a second casino in Johor’s Forest City, pro-opposition cybertroopers/netizens are up in arms with the unity government as to how the Singapore Straits Times could have ‘first-hand’ information on the cutting of fuel subsidy by June.
“Singapore already knew @fahmi_fadzil (referring to Communications Minister Fahmi Fadzil). Malaysians are at a loss without any initial preparations right, Fahmi,” teased one Nik Rizlan (@riz_esp) on the X platform.
“Long live, Madanon! (Madani government). This seems to be endless. Kah3 
”
Interestingly, a seemingly pro-Pakatan Harapan keyboard warrior blamed ‘the charade’ on the opposition by feeding foreign media outlets with misinformation for the sake of “political capital” in the wake of the Kuala Kubu Baharu (KKB) by-election slated for May 11.
“A similar modus operandi as in the casino issue. They threw out the ‘according to sources’ narrative. Then they spread the narrative that the (fuel) subsidy will be cut this June through WhatsApp,” defended Adam Yusuf (@khirariffin).
“These are all campaign capital motives for KKB’s by-election, ladies and gentlemen. Fortunately, @fahmi_fadzil is swiftly issued a denial.”
In his rebuttal of the Singapore Straits Tines report yesterday (May 4), Fahmi said the cabinet has yet to discuss about a price hike for the RON95 petrol and diesel.
The Pantai MP who is also the unity government’s spokesman said the matter has not been discussed by the cabinet previously – including during last week’s meeting – as claimed by the said report.
“I have studied the matter carefully and can confirm here that the matter was not discussed because I’m also a cabinet minister,”Bernama quoted the PKR information chief as saying in his speech at the Jiwa Madani programme at SMKA (P) Al-Mashoor in Penang.
“Therefore, don’t put the cart before the horse or don’t announce before it has been announced. We are aware that several foreign based media have pre-empt the process and I hope all parties, including the media, can obtain information from credible sources.”
What is obvious is perhaps that there are “little surprises” in the Singapore Straits Times report given that the government of the day has already hinted on numerous occasions that the targeted petrol subsidy initiative will take off in the 2H 2024.
Another certain outcome is that the gradual removal of petrol subsidy via targeted rationalisation will stoke inflation as they have indirect effects on prices of goods and services given fuel and transportation carries a weight of 8.5% and 14.6% respectively in the consumer price index (CPI) basket.
“The magnitude of price increases which will contribute to headline inflation will depend on the degree of the petrol price adjustment which we believe will be on small steps rather than an outright free floating of the RON95,” veteran economist and the Socio-Economic Research Centre (SERC) executive director Lee Heng Guie had told he told StarBiz. – Focus Malaysia
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