Removing fuel subsidies may backfire, says Fomca


Obvious open mic material.

Dateline 2022-05-23, NST:

Removing fuel subsidies for Malaysians and permanent residents with locally registered cars amid the soaring prices of goods and rising cost of living may backfire and cause higher inflation.

Federation of Malaysian Consumers Associations (Fomca) chief executive officer T. Saravanan said this was because suppliers and traders were extremely sensitive to fuel prices and would raise the price of goods whether or not they were affected by the subsidy removal.

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