The government recently proposed to either set a minimum floor price or fix a managed float system for the petrol pump pricing. We recognizes the interest of the public and has always taken the position that the economic sectors should be liberalized and auto floating mechanism should be implemented in the petrol pump pricing.
Acknowledging the fact that world crude oil prices has been significantly drop from US$120 in July to US$50 in November, we urge the government to re-examine the economic policies to adapt to the huge changes that affects the citizens daily life.
An auto floating mechanism in petrol pump pricing will provide an optimum price for motorists and the government will be able to monitor the mechanism in an open and transparent manner.
We also urge the government to continue in giving out the 30 cents petrol subsidies per litre as promised. The chain reaction from the previous petrol hike is still there and the inflation is still stands high at 7% when compared to 2% in 2006. The interest of the lower and medium income group should be taken care of.
We are objecting the floor price fixing for petrol pump as it does not promote transparency and consistency in government policies. The economy prosperity should be enjoyed by all citizens.
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