There are obvious signs of the fizzling of Prime Minister Abdullah Ahmad Badawi's 'feel good' factor pumped up for the recent polls.

The effectiveness and efficiency of government administration has deteriorated while the government overheads have increased substantially. The prices of consumer products have also increased substantially, indirectly rewarding political investors.

The agriculture minister has committed the first sin by overlooking the escalation of the price of rice and its related products. The minister failed to address the responsibility of our sole importer of rice, Bernas, in maintaining the price stability.

Bernas is acting like an opportunist business entity that tries to exploit Malaysian consumers by increase the price of broken rice in the market. It has also failed to maintain the transparency of its buffer stock movements to the public (to counter the temporary international increment in grain price).

It is impossible that Bernas could not have been prepared for rice price escalation; its predecessor Lembaga Padi Negara (LPN) had done a wonderful job in stabilising the price of rice. What 'invisible' hands could have allowed Bernas' buffer stock to run dry during the bull-run price escalation?

Over the years, Bernas has hardly contributed positively towards the improving the standard of living of 145,000 paddy farmers nor improving the yield of about 645,000 hectares of planted areas.

Bernas has become a rice monopoly that exploits Malaysian consumers by manipulating the international price of rice price rather than maintaining an adequate rice buffer stock (about 600,000 metric tonnes to 800,000 metric tonnes, or six months of national consumption) to fight price escalation.

It is time that Abdullah's administration consider withdrawing the rice import monopoly from Bernas. Multiple rice import permits should be made available and payment for these permits could be utilised more effectively to stabilise the rice market besides subsidising rice farmers accordingly to improve national rice production.

Bernas exists to make a profit - it has expanded into bakeries, construction, engineering services and commodity trading. It is also in the process of becoming the sole importer for potatoes, dried chilies, shallots, cabbages etc..

Malaysia should not be further exposed to the manipulations of this irresponsible rice monopolist.