As Malaysia moves towards the realisation of a developed nation, the country’s investments and cost elements calls for close scrutiny. The Malaysia Consumers Movement (MCM) is of the opinion that now, more than ever before, channelling of government funds for socio-economic development efforts which would result in long term tangible outcomes is critical.

Overall, it is worth asking if the billions invested to date by the government in the Cooking Oil Price Stabilisation Scheme (COSS) over time has supported the national agenda or merely caused avoidable losses?

Apart from saving billions of ringgits in government funds, the removal of COSS would also facilitate the development of a healthier nation. It is also worth noting that cheaper cooking oil prompts its excessive use, contributing to the rise in various preventive illnesses which includes heart disease due to high cholesterol levels.

As it stands, Malaysians have been lumped in the obese category. Wouldn't this cause an implication to the realisation of a developed status nation with human assets being at risk?

MCM acknowledges that the need for a rationing policy where subsidised prices should be limited for the deserving only i.e. lower income group, retirees and students but overall removal of cooking oil subsidy will overcome the problem of leakages through smuggling and overtime contribute in building a healthier nation .

For business operators, review of COSS should not become a pathway to raise prices but instead ways must be explored to provide healthier options. We have all a collective responsibility to create a healthy nation.

The MCM urges the government to channel saving from subsidy cuts to improving our healthcare service. Cuts in healthcare spending will have long term repercussion on the wellbeing of our nation.

With the huge increase in the use of social media and price comparison websites consumers are in a position to make informed choice and compare real time prices to enable consumers to get the best deals. Take collective action against traders who take advantage of situation.

DARSHAN SINGH DHILLON is president, Malaysia Consumers Movement (MCM).