Economics 101 - slashing fuel prices better than BR1M
YOURSAY ‘What kind of culture is he promoting for a soon-to-be developed country? Is this Najibnomics at its best?'
Fernz: Cash handouts are equivalent to further enhancing the dependency syndrome and reducing the people to perpetual beggars, left with no dignity and leeching off the system like parasites and bloodsuckers.
Cash handouts are also a way for the BN to bribe their way back into power with the people's money so that they will have another five years to run up the national debt burden to enable them to put their hands in the national cookie jar under the guise of bringing so-called development to the people.
Ajibklaus: How can caretaker PM Najib Abdul Razak, who is finance cum women's minister, be so naive? Doesn't he know that petrol is one of the chief driver of inflation?
He expects the poor rakyat to continue begging and waiting for his BR1M (Bantuan Rakyat 1Malaysia). What kind of culture is he promoting for a soon-to-be "developed country"?
Such policies will only breed corruption. Is this Najibnomics at its best? Anwarnomics is much better.
Maplesyrup: Najib does not understand economics. Petrol is key to a lot of goods and services, just as the last time when fuel prices shot up, food prices went up, many other goods also became more costly because transport cost increased.
I think ordinary folks are facing hardship. BRIM is good, but give a man a fish, he only avoid hunger for a day.
Pakatan Rakyat has the ability to implement policies that will create jobs, raise productivity and bring household income to a level that enables families to live above poverty line without the need for handouts.
I would much prefer a government that can do a lot of good to the economy and jobs.
Real Truth: Najib, we do not want bribes, we want an equitable system of distribution of wealth to all Malaysians.
Malaysians do not need handouts, but an environment that allows future growth of our nation without corruption and cronyism.
Jedi_Who: Petrol is a critical component in the expansion and contraction of economic growth of a nation. Najib is showing his ignorance and incompetence.
James Bond 007: The rich are already paying huge amounts in income tax. If you reduce petrol prices, the prices of other products and services will either go down or will remain the same. It will not go up. So every rakyat benefits.
BR1M is not automatically being given out every year. Maybe in the next four years, there is no BR1M, but petrol prices will increase, goods and services tax (GST) will come in and toll cost goes up.
NoNoNo: How many people received BR1M? Petrol here basically refers to petrol used by vehicle (car, lorry and motorcycle). How many rakyat owns a vehicle? I'm sure more than those getting BR1M.
Talking about rich, BN subsidises the fuel of the independent power producers (IPP)? So who is benefitting the rich? Najib, please don't say things to damage your own reputation.
Better My: No, you got it wrong, Najib. BN deputy chief Muhyiddin Yassin got it right, when he said, "To them (Pakatan), only they (Pakatan) are intelligent, everyone else in BN is stupid, even I am stupid."
Cash handouts serve as gratification only, for example buying consumables, that don't lift productivity.
Petrol prices is one of the most critical expense of most businesses, for example transport charges. Higher petrol prices lead to higher consumable prices or inflation.
Lower petrol prices boost business activities and jobs. High paying jobs are needed as the cost of living goes up.
This is not to say taxpayer-funded cash handouts don't serve a purpose for rakyat to pay off their debts and bills.
To avoid the accusation of vote-buying, cash handouts are best done at non-GE periods, like the way caretaker Penang Chief Minister Lim Guan Eng has done, and only if the state or country can afford it.
But Najib can't afford it, due to record national debts, no thanks to his management of our national coffers.
Anonymous #76965586: Definitely, money has to come from somewhere if you want to reduce petrol price. I don't know, after all the financial mess left behind by BN, how much petrol price can be reduced.
However, I know that money lost through corruption will definitely be enough to cover up the subsidies. As for BN, they won't be able to lower petrol price as if they do, there won't be enough money left to be robbed through corruption.
Anonymous_7281: There is no transparency in handling BR1M. I wonder if all the monies actually go to the poor. Moreover, reducing petrol prices will reduce inflation whereas handling out easy money will worsen inflation.
KnockKnock: Based on BN pamphlets dumped inside our gates, I noticed full images of BN leaders giving out goodies and little hampers to old people and kids here and there. My question is:
After 50 years of BN leading this country, do you as PM take pride to see our people still putting out their arms for alms?
WangMalaysia: What a stupid statement from a PM. Petrol price comes down, the whole cost of doing business comes down, price of daily items will go down across the board. I am pretty certain the savings over a year will be more than RM500.
I think beyond that, how about lower cost of electricity and water? That would help the people even more. I am appalled at our caretaker PM's intelligence.
Anonymous1000: Najib is getting so desperate that he doesn't know what he is talking about. I hope he or his representative will read the comments by Malaysiakini readers to educate himself on some simple economics.
The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. Over the past one year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now.