DEPUTY Finance Minister Lim Hui Ying recently acknowledged that Malaysians can expect higher prices, with the government set to increase taxes in certain sectors like fuel and logistics. According to her, this will inevitably lead to more expensive goods and services, although she assures us that the increases will be “under control.”
She also highlighted targeted subsidies for the B40 group, as if this alone would be enough to cushion the blow.
But let’s get real: simply telling us prices will go up, and chalking it up to “external factors” like commodity prices and supply chain issues, feels like a weak response. Malaysians want to know what the government is actively doing to prevent or offset these increases, not just passively announcing that costs will rise.
Saying “external factors” is like passing the buck. It’s as if the government is asking us to simply accept the inevitable without explaining how it plans to make our economy stronger and more resistant to such shocks.
In times like these, we need concrete solutions and a real strategy that goes beyond acknowledging a problem everyone can see.
What about our supply chain vulnerabilities that the pandemic and recent global events have exposed? Prices are sensitive to global market shifts, sure, but if our country’s supply chains were more resilient, we wouldn’t be hit as hard every time there’s a global hiccup.
Let’s also look at the recent minimum wage hikes Lim mentioned as a supposed way to help low-income Malaysians keep up with the cost of living. While the increase is welcome, the reality is that wage hikes alone are rarely enough to cover rising expenses. If at all, this may even cause businesses to pass the rising costs to consumers.
For many in the B40 group, every ringgit counts, and even a small price hike in food, transportation, or essential services can feel like a heavy burden. What people need isn’t just a higher paycheck; they need stability in prices and a government that’s actively working to make life affordable.
If higher taxes on “non-essential” items are on the way, then the people deserve a clear breakdown of how the government intends to use this extra revenue to benefit everyone. Are these tax increases going to better public services, or will they simply disappear into the ether of government spending? Transparency matters here, and Malaysians deserve to know exactly how these new taxes will translate into better support, particularly for those most affected by rising costs.
The government has announced it will introduce targeted subsidies for RON95 petrol next year, which means only certain groups will benefit from lower fuel prices. For the rest of us, this likely signals yet another increase at the pump, adding to the burden on everyday Malaysians already grappling with rising costs. So, we can all brace for prices to climb even higher, affecting not just transportation but also everything from food to basic services that depend on fuel.
Lim Hui Ying’s statement may acknowledge the reality of rising prices, but without concrete, proactive measures from the government to ease this burden, it feels like just another reminder that the people will be left to shoulder the weight of external factors. Malaysians need more than reassurances – they need solutions.
Abdul Rahim Md Noor is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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