Plans to remove fuel subsidies are set to add to the cost of living challenges, particularly for its elderly population who rely heavily on fixed incomes.
The removal of subsidies in the second half of 2024 will see the price of fuel rise from two to three times the current rates.
As the price of fuel increases, the most direct and immediate effect will be on transport costs which form the backbone of industry and individual mobility.
Rising transport costs may be more severe for economically disadvantaged or vulnerable populations, including the poor and/or elderly. Transport operators often pass on their increased overheads to retailers who in turn increase the prices of goods and services.
Malaysia officially became...