Friday, June 6, 2008

Victims of economic growth

As Malaysians, are we prepared to spend RM900 worth of petrol alone? (Figure provided by Harakah.net) Tell me my dear readers, as a typical working-class average Malaysian-Joe, how much do you actually earn in a month net?

Let me tell you a scenario; I have an uncle who is working for a government agency. He is earning about RM2500 per month(inclusive of all allowance and etc. and after deductions on EPF, SOCSO). He has a wife, 3 kids and owns a house and a car. I will use this as a comparison mechanism. For a start, BEFORE FUEL HIKE, he'll be spending rm140 per week on fuel, RM800 deduction on housing loans, RM600 on car loan and the rest on home usage (say RM300 food and RM200 for bills) which leaves RM460 as spending money. Pretty ok? With the "FUEL HIKE", a domino effect will occur where the fuel consumption will rise to RM900, electricity as we know is going to rise by 20% so round it to RM120, food prices would definitely go up as well to an estimated RM500 monthly. I'll stop here as if you do the math, the figure has exceeded the salary.

Is this scenario somehow applies to you but you have less income? Pitiful ain't it? To compare our salary cap with our neighboring country Singapore, their income per capita (average person) is RM106,000 per year Americans with RM52,300 and Taiwan with RM66,000, where as Malaysia's per capita yearly income is at a mere RM21,500. For your information also 1 liter of petrol in Singapore is RM5.20 and diesel RM4.33. An average Singaporean earns about RM7,500 per month compared to RM1,500 of a Malaysian. And 1 huge point is "WE EXPORT OIL" as we are oil producers and Singapore imports them. In Sabah alone, i'll continue saying that a average Sabahan is earning RM600 to RM900 only. So do you feel that it is justifiable to raise the fuel price?

Here's a small list of some oil producing countries and their fuel price per liter (IN RM)

UAE------------> RM1.19/liter
Eygpt----------> RM1.03/liter
Bahrain--------> RM0.87/liter
Qatar----------> RM0.68/liter
Kuwait---------> RM0.67/liter
Saudi Arabia---> RM0.38/liter
Iran-----------> RM0.35/liter
Nigeria--------> RM0.32/liter
Turkmenistan---> RM0.25/liter
MALAYSIA-------> RM2.70/liter
Brunei---------> RM1.20/liter

How has it come to this? I am at lost and by looking at the list above, i feel absolutely cheated. I am really sorry towards us Malaysian as an oil-rich country. Is the people being 2nd on the list as economic growth is the 1st? And from this economic growth, who is enjoying the fruits of it? I sure ain't feeling it. Do you? Something to ponder especially you're in the list of people of low earners.

Just my point of view.

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