Last Monday (10/6/2024), Malaysians were met with devastating news that the price of diesel went up by over 50%. This is part of a revamp of decades-old fuel subsidies to tighten government spending and save billions of ringgit yearly. The restructuring is intended to do away with blanket energy subsidies and redirect them to the needy. This revamp is part of PMX's economic reforms whose government says are necessary to build a more sustainable economy and plug losses from smuggling cheap oils to neighbouring countries.
However, the tune was different back in 2008. Anwar, the opposition figurehead then, said “If there were an election today and it was announced that we (PKR) won, then by tomorrow morning I would announce that fuel prices will be reduced throughout the nation.” Anwar even said the following in 2008, "I cannot accept an oil-producing nation like Malaysia increasing petroleum prices by 46 percent in one go," Anwar said. "It…reflects an utter disregard for the welfare of people. I am committed therefore to reducing the price of petroleum." The video which features Anwar's pledge in 2008 has gone viral on social media over the past few days.
Datuk Seri Anwar Ibrahim also sang the same tune back in July 2022, when he once again promised that petrol prices would drop the very next day if the opposition pact won in the general election. Back then, Datuk Seri Anwar Ibrahim said he could not fulfill the promise because he never had the chance to be the Prime Minister. “Many people made fun of what I said before… ‘we win today, petrol price will drop tomorrow’. Why didn’t this happen? Because I was not made the Prime Minister. What can I do?,” he said in his speech at the 16th PKR national congress in 2022. He assumed office as Prime Minister later that year(24th of November 2024).
Facing criticism for his past pledges to lower fuel prices, PMX addressed his critics in the Finance Ministry's monthly assembly on June 11th 2024 (last Tuesday). He said in 2008, the price of petrol in Malaysia was higher compared to other oil-producing countries such as Saudi Arabia. “(The video of my campaign speech in 2008) says if I win today, tomorrow the prices of fuel will go down. That is what is being repeated. But that was in 2008, when the price in Saudi Arabia was at 50 sen while ours was at RM1.80. Now, our petrol is priced at RM2.05, and Saudi Arabia's is at RM2.95. The only oil-producing country that sells petrol for cheap is Brunei. How do you then relate the cost in 2008 versus 2024? This is basic economics.”. To put it simply, PMX thinks it is unrealistic to link his past campaign pledges (of 2008 and 2022) of 'win today, cheaper fuel tomorrow' video to current times.
In light of the recent fuel price hike and Anwar's past promises, Malaysians are left questioning the integrity of PMX and his Madani government. The drastic increase in fuel prices (diesel at the moment), part of an effort to reform decades-old fuel subsidies, has hit hard, stirring discontent among the populace. This move, intended to redirect subsidies to the needy and build a more sustainable economy, contrasts sharply with Anwar's previous pledges to reduce fuel prices, raising doubts about the government's commitment to its promises.
Anwar's 2008 and 2022 promises to lower fuel prices upon winning the election have resurfaced, thanks to viral videos on social media. His statements from those years now seem out of touch with the current economic realities. In his recent address, PMX emphasized the differences between the economic conditions of 2008 and today, pointing out that comparisons between the fuel prices of then and now are unrealistic. This explanation, while rooted in economic reasoning, has not assuaged the concerns of many Malaysians who feel betrayed by the unfulfilled promises.
The public’s reaction to the fuel price hike reflects broader concerns about the Madani government's economic policies. Critics argue that the government’s strategies are disconnected from the needs of the ordinary citizen, highlighting a perceived gap between political rhetoric and real-world action. This growing discontent could have significant political ramifications, as the electorate may hold PMX accountable for the disparity between his past promises and current policies.
The next general election will be a critical juncture for the Madani government. The question looms whether the dissatisfaction over the fuel price hike and other economic reforms will lead to a loss of support. Anwar's ability to navigate these challenges and address the concerns of Malaysians will be pivotal in determining his government's future. Transparency, effective communication, and tangible benefits from the reforms will be key to regaining public trust.
Ultimately, only time will reveal whether the recent fuel price hike is the beginning of a series of events that could destabilize the current administration. Malaysians are watching closely, and the government's actions in the coming months will be crucial in shaping the political landscape. The integrity and efficacy of PMX's leadership are under scrutiny, and the unfolding political and economic developments will determine if his government can weather this storm and maintain its mandate.
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