ID :
33911
Thu, 12/04/2008 - 18:28
Auther :
Shortlink :
https://oananews.org//node/33911
The shortlink copeid
GOVT TO DECIDE ON MECHANISM FOR FUEL PRICES ON DEC 10
PETALING JAYA (Malaysia), Dec 4 (Bernama) -- The government will decide on
Dec 10 whether to implement a float system or floor price for petrol and diesel,
Domestic Trade and Consumer Affairs Minister Shahrir Samad said Wednesday.
He said members of the National Economic Action Council (NEAC) would meet
that day to discuss the matter as they were unable to do so during their last
meeting on Monday.
According to reports, the decision on the mechanism to fix fuel prices
could not be discussed at the NEAC meeting in Putrajaya then as the focus was on
the country's security situation.
Shahrir said the government had to look for the best solution as having a
floating management system for fuel prices would only benefit when the prices
of crude oil were low.
"The real issue here is that how much the price should be reduced so that
the money of consumers will be in their pockets to spend or save and how much
should go to the government coffers for development and other purposes," he said
after launching the a hypermarket and its price reduction campaign here.
Prime Minister Abdullah Ahmad Badawi on Tuesday announced that the pump
price of petrol and diesel went down by 10 sen a litre from Wednesday.
The RON97 petrol is now sold at RM1.90 per litre from RM2 and RON92 at
RM1.80 per litre from RM1.90 while diesel is retailed at RM1.80 per litre from
RM1.90. (US$1=RM3.62)
On the refusal of some traders to reduce the prices of goods, Shahrir said
the government could only control the prices of specific products.
"The price reduction campaign needs the cooperation of manufacturers,
wholesalers and retailers. Up to now we have received close cooperation as those
involved understand this is the way to promote economic growth," he
said.
"If the prices are too high and traders want to profit more, then consumers
will not be spending and the result will affect the economy," he added.
At the Parliament lobby, Shahrir said petrol would continue to be under
price control and oil companies and service station operators should sell it
according to price fixed.
"As long as petrol is under price control, it is the government that fixes
the retail and wholesale prices," he told reporters.
He was asked to comment on a suggestion by Petaling Jaya Utara Member of
Parliament Tony Pua for oil companies to fix a price lower than the ceiling
price to promote competition.
-- BERNAMA
Dec 10 whether to implement a float system or floor price for petrol and diesel,
Domestic Trade and Consumer Affairs Minister Shahrir Samad said Wednesday.
He said members of the National Economic Action Council (NEAC) would meet
that day to discuss the matter as they were unable to do so during their last
meeting on Monday.
According to reports, the decision on the mechanism to fix fuel prices
could not be discussed at the NEAC meeting in Putrajaya then as the focus was on
the country's security situation.
Shahrir said the government had to look for the best solution as having a
floating management system for fuel prices would only benefit when the prices
of crude oil were low.
"The real issue here is that how much the price should be reduced so that
the money of consumers will be in their pockets to spend or save and how much
should go to the government coffers for development and other purposes," he said
after launching the a hypermarket and its price reduction campaign here.
Prime Minister Abdullah Ahmad Badawi on Tuesday announced that the pump
price of petrol and diesel went down by 10 sen a litre from Wednesday.
The RON97 petrol is now sold at RM1.90 per litre from RM2 and RON92 at
RM1.80 per litre from RM1.90 while diesel is retailed at RM1.80 per litre from
RM1.90. (US$1=RM3.62)
On the refusal of some traders to reduce the prices of goods, Shahrir said
the government could only control the prices of specific products.
"The price reduction campaign needs the cooperation of manufacturers,
wholesalers and retailers. Up to now we have received close cooperation as those
involved understand this is the way to promote economic growth," he
said.
"If the prices are too high and traders want to profit more, then consumers
will not be spending and the result will affect the economy," he added.
At the Parliament lobby, Shahrir said petrol would continue to be under
price control and oil companies and service station operators should sell it
according to price fixed.
"As long as petrol is under price control, it is the government that fixes
the retail and wholesale prices," he told reporters.
He was asked to comment on a suggestion by Petaling Jaya Utara Member of
Parliament Tony Pua for oil companies to fix a price lower than the ceiling
price to promote competition.
-- BERNAMA
