Subsidies - Fact or fiction

The Prime Minister, Datuk Seri Najib Tun Razak, tabled the 2017 Budget in Parliament recently. Save for the usual antics of the opposition parties, which makes a complete mockery of this august event, the budget was balanced and appropriate given the prevailing economic situation and challenges faced by policy makers due to the drop in the price of crude oil and commodities.

However, a part of the budget that has received undue attention and been subject to much speculation and subterfuge is the rationalisation of cooking oil subsidies and the subsequent increase in the price of petrol and diesel.