In YB Rafizi Ramli’s recent video, he had put out the bait that the price of petrol for Malaysia would be RM1.50 per liter if Pakatan wins.
This would make our petrol price about the same price as Kuwait and among the 5th cheapest in the world.
Currently, Malaysia’s petrol price is already the 10th or 11th cheapest in the world – but it appears not to be enough for Rafizi.
Other than the fact that all those countries on top of Malaysia are much bigger oil producers and exporters while Malaysia is a net marginal oil importer, one of the countries that in the top 4 is right now facing financial meltdown due to excessive subsidies.
Also, the other countries in the list are all scheduled to keep on increasing petrol prices – including Saudi Arabia.
Let me ask you: What right does Malaysia have that our petrol is 5th cheapest in the world and even cheaper than Iran, Bahran, UAE, Dubai, Qatar and those large oil producing countries?
The world is going in one direction while Pakatan wants Malaysia to go back to the reverse or “gostan” direction.
Thus, we can conclude that Pakatan’s economic policies are just populist vote-bait that are not based on proper financial planning and will certainly bring ruin to Malaysia.
For example, Pakatan wants to abolish GST and increase back subsidies – both of which are among the measures praised by the credit rating agencies, economic analysts and the international bodies as positive steps of economic reformation.
Should both of these steps be now reversed should Pakatan wins then the credit rating agencies WILL immediately downgrade Malaysia’s ratings – which will lead to tens of billions in increased debt increase charges per year while causing a big outflow of investment funds.
This downgrade will severely damage Malaysia’s economic prospects for the decade to come.
I am confident that the Malaysian public will see through Pakatan’s populist vote-bait that will just bring Malaysia to ruin.