PETALING JAYA: Several policies slated for implementation in the coming months should be delayed as they risk adding financial burden on the rakyat, says MCA president Datuk Seri Dr Wee Ka Siong (pic).
Dr Wee, who is also Ayer Hitam MP, said while the policies are meant to target the top 15% (T15) group, they would also affect the lives of the broader population.
“Now, we are facing a wave of significant cost of living increases and the most affected group is the common people, especially the most vulnerable.
“The reciprocal tariff announced by the United States will have a ripple effect worldwide, and Malaysia is one of the countries that will suffer adverse effects.
“As an economy that relies on trade, the cost of raw materials will increase, export competitiveness will decline and eventually, the prices of daily necessities in the local market will rise,” he said in a video posted on Facebook.
Dr Wee added that the government has announced the rationalisation of RON95 petrol subsidy will begin as early as July 1.
“We understand the long-term need for subsidy reform but to this day, there are still many fundamental questions that remain unanswered. What is the actual price of RON95 without subsidies?
“Why is the Automatic Pricing Mechanism (APM) formula not shared openly?
“How will this targeted subsidy mechanism work?
“Do we use our MyKad, e-wallet, or driving licence?
“Who is eligible and based on what criteria?” he asked.
He said such details of the policies should have been finalised by now.
“The question is, if by July 1, the rationalisation of RON95 subsidies is implemented along with the expiration of the Trump reciprocal tariff suspension, imagine what will happen to all of us?” said Dr Wee.
He also raised concerns about the planned 14.2% electricity tariff hike from July 1, despite government assurances that 85% of consumers would not be affected.
Dr Wee added that the planned expansion of the Sales and Services Tax (SST) and removal of egg subsidy from Aug 1 would further strain household budgets, with egg prices expected to rise by about 3 sen each.
He said the people have the right to know how these policies will be implemented and called on the government to provide a clear explanation.
He also warned against the risk of implementing multiple policies simultaneously, saying this could leave Malaysians feeling like they are being hit from all sides.
“This is not about politics, it’s about the people,” he said, urging policymakers to delay these measures until the economy is on a more stable footing.
“A good policy must be accompanied by careful and timely planning, and everything must start with honesty and transparency.
“I would also like to extend my sincere condolences to those who have been in a difficult situation and are now facing the worst of it.
“I think it’s better to postpone these policies until we all have time to breathe,” said Dr Wee.
