Home > News > Nation
Sunday March 18, 2012 MYT 12:00:00 AM
Saturday May 25, 2013 MYT 5:55:13 PM
by the star says
STUDENTS in higher education will soon enjoy a better quality of life with the launch of discount cards for several forms of expenditure.
Kudos to the Higher Education and Domestic Trade, Cooperatives and Consumerism Ministries for developing this discount scheme together with Bank Rakyat.
Concern over rising costs has warranted the discount card plan for young adults who have yet to earn an income. An important consideration before the card is launched in June is the scope or selection of goods and services to be covered.
Obviously, these would not include wasteful or unsavoury items for youths. But just as important, the discounts should cover as wide an array as possible of necessary or useful items for students, such as books, meals and public transport.
Similar discount systems have been practised in several other countries for many years, but they have often been uncoordinated. A book discount scheme may not be related to public transport passes, which in turn may be different from a discount card for retail outlets.
The advantage of the Govern-ment's new scheme, in being designed from scratch, is the ability to integrate all the discounts and other entitlements for students within a single card. Let us hope that its implementation will not experience serious glitches.
In the meantime, it would be in everyone's interests if more retailers joined the scheme by offering meaningful discounts to cardholders. The discount system would benefit not only students but also businesses through higher turnovers.
When students find a product or service beyond their means, they tend not to purchase it. But when a worthwhile discount is offered, they make the purchase and thereby add to consumer demand.
The result is that market demand as a whole is stimulated, increasing overall purchases. The nation's economy also benefits.
Likewise, senior citizens should also be entitled to a similar discount scheme. They, too, will add to more business transactions when they would otherwise not have made some purchases.
Retailers may find that they make less profit from some purchases because of the discounts, but overall they would register more sales and therefore make larger aggregate profits.
Young adults and senior citizens, both without full-time incomes, would benefit along with the business community. That would be an engaging win-win-win solution for raising living standards.
Tags / Keywords:
1AZAM aiding low-income households
Marked improvement in income levels of the extremely poor
Liow: Household income increase is proof Govt has succeeded in improving lives
Household income continues to soar on economic transformation
Income tax cut joy all around
Chinese daily fights extremism with moderation campaign
Mum and daughter stabbed by burglar
Lat’s ‘Kampung Boy’ takes second spot in Japanese award
More homes turning to electric fencing for security
Ladies, time to stand up and fight for your man
Looking out for your ears
Atletico's Simeone pleased with improving Mandzukic
Security experts fear Sony attack to fuel more company extortion
Getting ‘inn’ on a Japanese experience at a Ryokan in Gion, Kyoto
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)