JUNE 10 — The Anwar administration has been signalling their intention to proceed with fuel subsidy rationalisation – removing subsidies for diesel and petrol — for some time...
JUNE 10 — The Anwar administration has been signalling their intention to proceed with fuel subsidy rationalisation – removing subsidies for diesel and petrol — for some time now. There have been mixed responses towards the impending diesel subsidy. Some commentators likeclaim the effects on overall inflation will be tame, while others preach caution as this could worsen the cost of living.
Weber adds to this notion of prices as social relations with the understanding of economic shocks — like the Ukraine war and Covid supply chain issues — as indirect coordinators for price increases. In the same video, she states that “cost shocks can coordinate price hikes” and how it creates “an implicit agreement, almost like a cartel” to raise prices without worrying about losing market share to their competitors since everyone is doing it.
If my product costs RM5.30 from 5 inputs with each of them already containing the 6% SST, an increase to 8% would lead to the product costing RM5.40 and not RM6.00, RM7.00 or anything higher. However, from the standpoint of an industry that has seen record losses, hiking prices by 30% is needed to pay off debt and reexpand the business back to levels that are profitable again.
Subsidy Rationalisation And The Spectre Of Sellers Inflation Jeremy Lim
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