Dear PM, I think I am getting tired commenting on your economic policies, including the latest measures to reduce the cost of living. But for the sake of the rakyat, I am appealing to you to reconsider what you have just announced. These measures are just plain silly and devoid of any logic. How we end up doing the same thing over and over again and expecting different results is simply beyond comprehension.

What do 1Malaysia People’s Shops, 1Malaysia Textile Shops, 1Malaysia Book Shops and eateries offering 1Malaysia Menu have in common? Are they operated by more efficient businessmen? Can they source their merchandise from wholesalers and suppliers at lower cost? Are they more altruistic willing to make lower margins and lesser profits? Are they able to pay lower rentals or lower wages to their workers?

If they are not, how precisely can they sell their merchandise at lower prices to help rein in the escalating cost of living?

Unless all these 1Malaysia shops/eateries are subsidised, I don’t see how they are able to compete more effectively than other business outlets already in existence. If the government’s sponsorship and subsidies are involved, then it is back to square one again - we are effectively committing more government finances and introducing more distortions into our economy.

With due respect, I don’t think this is the way to run a market economy the basic elements of which are competition and allowing the market forces of demand and supply to work.

Instead of introducing more ‘state sponsored’ businesses and committing more subsidies, the government should actually do the opposite, i.e. dismantling distortions and monopolies, reducing state sponsored enterprises and making the business environment more competitive.

Allowing enterprises to enter and exit the market with ease would assist ‘water finding its own level’. Too many restrictions, monopolies, licensing and controls only help ‘privileged’ businessmen exploiting consumers by reaping abnormal profits.

To me, setting up more 1Malaysia People’s Shops, 1Malaysia Textile Shops, 1Malaysia Book Shops and offering 1Malaysia Menu to manage the cost of living are ‘Ah Beng’ economics devoid of substance and economic rationality.

The performance of an economy is based on sound macroeconomic policies, not micro managing shops or lunch menu. If macroeconomic policies are appropriately formulated and applied, all ‘economic units’ - shops, eateries, hotels, massage parlours, housing developers, transport operators and consumers will gravitate toward mutually beneficial relationship.

Managing inflation and taxes

Ultimately, the real substance is how we manage inflation and taxes, preserving the value of ringgit, growing and sustaining real wages, and controlling asset prices and their effect on home ownership, et cetera. How can RM200/month assistance help the house owners when asset prices have reached the stratosphere and when public housing programme is almost non-existent in the country?

Dear prime minister, let me give you a pointer: Singapore is a very high cost and expensive city, but for S$5.00, one can get a decent meal in a relatively clean environment. And for housing, everyone qualified will eventually get a clean decent HDB flat. Maybe you would want to find out how they manage to do that.

One thing is quite sure, Singapore does not have subsidised shops and eateries offering special 1Singapore menu. It pays for you to learn from them because the PAP government just got almost 70 percent of the popular votes despite its long reign over Singapore just like Umno over Malaysia.

By the way, why do you need RM20 billion to boost the stock market? If indeed there are undervalued stocks, we should let the market work it out. Who is to determine which stock is undervalued? Who are you trying to help really? Government knows best again?