No reason for hike in property prices, says Nga

TELUK INTAN: There is no reason for prices of homes to increase following the removal of the diesel subsidy, states Nga Kor Ming.

The Housing and Local Government Minister said some 33 vehicle types, including school and factory buses and lorries, would continue to receive the fleet card.

"I understand from the Finance Ministry that approximately 400,000 diesel vehicle owners will be issued these cards. I see no reason for a steep price increase," Nga said at a press conference after the groundbreaking ceremony for the Bandar Prima project on Friday (June 14).

"The Domestic Trade and Consumer Affairs Ministry will monitor to ensure no one takes advantage by unduly increasing prices," he added.

There have been reports of raw material suppliers considering a 20-30% price increase due to the diesel subsidy removal.

Nga said everyone knows that the targeted subsidy move was supported by all previous prime ministers.

"Tun Dr Mahathir Mohamad, Tan Sri Muhyiddin Yassin, Datuk Seri Ismail Sabri Yaakob and even PAS leaders agreed that it was a brave move to ensure the future of the country.

"Previously, the subsidised diesel was enjoyed by foreigners and also smuggled out of the country," he said.

"About RM4.5mil was lost daily and three million litres of diesel were smuggled out.

"We now see these smuggling activities have lessened, and we can save RM4.5mil every day, with the money to be used to help the people," he added.

Nga said the move to remove the subsidy was a difficult decision.

"We appeal to all to understand this. Politicians are concerned about the next election but statesmen are concerned about the next generation.

"We are concerned about the future of our next generation and we cannot let the wrong continue to jeopardise the future of our nation," he said.

"We want to do the right thing and this is the reform that we promise to do.

"Also understand that there's only one icon, named Datuk Seri Anwar Ibrahim, who is brave enough and has the political will to do it," he added.

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