COMMENT | Statistics can be manipulated and even explained away, but in so doing, Finance Minister II Johari Abdul Ghani should not forget that the people’s livelihood is adversely affected with the inflation rate being at an all-time high since November 2008.

In fact, Johari should realise that on the ground, the pressure coming from an escalating cost of living is greater than what is reflected on the official Consumer Price Index (CPI).

As pointed out by Universiti Sains Islam Malaysia lecturer Mohd Hazmi Mohd Rusli, “comparison of cost of living is not just limited to buying groceries - it goes far beyond that”.

For example, the lower currency exchange rate has also caused the prices of imported goods to escalate, dampening consumers’ sentiments.

If the country’s economy under Prime Minister and Finance Minister Najib Abdul Razak is properly managed, we would be more advanced than Singapore.

We are where we are today due to the government’s policies, which are largely unfriendly to the rakyat.

GST and subsidies

The implementation of the Goods and Services Tax (GST) at six percent on April 1, 2015, and the removal of fuel and other subsidies - all happening at the same time - have impacted the livelihood of the average Malaysians.

People are finding it harder to make ends meet, especially since their salaries have largely remained stagnant. Increasingly, they have to depend on credit cards, and when they are unable to pay the debts, they end up becoming bankrupt.

While the Economist Intelligence Unit had identified Malaysia as having the lowest cost of living among Asean member countries, there is something really wrong if Malaysians generally feel that they are struggling to survive.

Najib should not boast about the cost of living, but instead ask why Malaysians are having a tough time, and why they are planning to march on International Labour Day on May 1.

One of the main issues currently is the delay in the implementation of the Employment Insurance Scheme.

The hardships that the people have to face is the price that we have to pay for the high level of corruption in this country. We have become well-known as a nation of kleptocrats, no thanks to the investment arm under the care of Johari’s ministry.

Johari should be reminded that he is not paid to do the job of an economist, or an academician to explain why our inflation rate has hit an all-time high, but as a finance minister, his task is to look at how to manage the country’s fiscal policies.

A high inflation rate of 5.1 percent in March this year, whatever the reason, will inevitably translate into a higher cost of living for the average wage earner.

Given that the minister has already identified the cause of the high inflation rate, he should immediately look at how to reduce the impact of higher petrol prices, instead of saying that the government is in a state of helplessness.

While it is true that oil prices will fluctuate, we must not forget that Malaysia is an oil-producing country, and over the past five decades, we have been able to shield our country’s economy against the global oil price movement.

If nothing is done to manage the country’s ailing economy, amidst high debts incurred by Najib, the people are the ones who will suffer eventually.

STEPHEN NG is an ordinary citizen with an avid interest in following political developments in the country since 2008.

The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.