Even as the nation still reels in shock over the midnight fuel price hike, a minister has described the increase as minimal.

"If we do a calculation, the increment is minimal," Domestic Trade, Cooperative and Consumerism Minister Hasan Malek said.

"If there is going to be an impact (on inflation), it will be minimal.

"It is not big," he told a press conference in Kuala Lumpur after attending the Malaysian Intellectual Property Award.

As such, Hasan said, there was no reason for the traders to increase their prices, and the ministry would take stern action on them if they did.

When asked, Hasan could not guarantee there would not be another increase in the price of petrol and diesel.

“I can't promise anything. This depends on the current economic situation,” he said.

Instead, he emphasised that the increase is not meant to burden the rakyat but to strengthen the country's finances, and that in the long run, this will help the government to achieve zero deficit in 2020.

"In order to march towards that direction, (we) suffer first and will be at ease later, ( sakit-sakit dahulu, senang-senang kemudian )," he said.

However, Hasan denied that the fuel price hike was an outcome of the government mismanagement of the country's finances.

"What do you mean? Don't say that the government is weak... I deny this," he fumed.

Hasan urged the people to accept the decision and to wait for Prime Minister Najib Abdul Razak to table the 2015 Budget.

 

He said the prime minister, who is also the finance minister, would also be coming out with announcements meant to soften the blow of the surprise hike.

 

In the meantime, he urged the rakyat not to be used by those who are taking up the issue to gain political mileage.

The petrol and diesel price hikes were decided earlier but announced at this "appropriate time", he said when asked about the timing, since Muslims celebrate Hari Raya Haji on Sunday.

If the news breaks out after Hari Raya Haji, then Hindus who celebrate Deepavali then will be angry, he said, adding that Christians will celebrate Christmas after Deepavali.

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