Malaysians must get used to unsubsidised fuel prices

Subsidy is often viewed positively by the consumers but negatively by economists. However, the bottom line is, the population needs to adapt to real world prices and the country needs to boost its finances by cutting back on expenses such as subsidies.

In Malaysia, we have seen many subsidies such as the sugar subsidy, which was abolished in 2013, and the much talked about fuel subsidy, which has been reducing every year, with the recent reduction by RM0.20 last month.