Consumerist: Dr Mahathir’s Views Should Be Taken By The Govt If It Intends To Prevent Consumer Backlash!

Dato Jacob George

People with profile, expertise and businesses knowledge will migrate, no two ways about it after all they are not rent seekers!

The irony based on the present policy trends – they will be replaced by economic migrants from warring West Asian countries, scam experts from African states and our national manpower agents and politicians favorites – unskilled Bangladeshis!

Consumerist: Dr Mahathir’s Views Should Be Taken By The Govt If It Intends To Prevent Backlash!

I enjoyed reading former premier, Dr Mahathir Mohamad’s comments and advice to the Najib administration on the escalating costs of essential goods and services in Malaysia!

I am happy to learn from family members who met him at Cairns, Australia recently that he was recovering well and as someone who had his humble beginnings in Sungei Petani, Kedah, I cannot but continue to pray for his and ‘Mummy’s’ continued good health!

Dr Mahathir’s comments I believe comes from his sincere deep concern and anxiety at the pain and uneasiness of Malaysian consumers at such a drastic increase in all sectors that will now affect Malaysian consumers despite them suffering the last 3 years with all kinds of price increases and living on a credit lifestyle which is expected to get worse in 2014!

IF the rising trend is not curtailed and the government does not change its bourgeoisie lifestyle in totality it means only one thing – all roads will lead to economic slowdown, stagflation, recession, slump and even a depression and finally bankruptcy!

People with profile, expertise and businesses knowledge will migrate, no two ways about it after all they are not rent seekers!

It is strictly economics for them!

They are not passionate and patriotic as this writer!

The irony based on the present policy trends – they will be replaced by economic migrants from warring West Asian countries, scam experts from African states and our national manpower agents and politicians favorites – unskilled Bangladeshis!

So should we always blame the businessmen for the follies at the marketplace?

I was speaking to a former industry captain who has migrated and doing exceptionally in his new found home!

He alleges that the Malaysian marketplace is not competitive!

He gave me a lecture on Economics 101, saying most of our leaders, including those claiming to be wizards, are incapable of comprehending.

He maintains that a market economy driven by private enterprises will go for efficiency and cost minimization as given. But how do businessmen reduce cost when they are operating in an economy saddled with distortions and colossal rent-seeking practices and some, by institutionalized design?

He asked me how can we reduce energy cost when lopsided IPPs agreements were never rectified and corrected?

How do they reduce transportation cost when all the highways are operated by cronies who are also monopolies with questionable agreements that have never been addressed transparently?

And yes – you do not have to be a rocket scientist to ask the question – just how does one reduce the prices of essential goods such as rice, sugar, flour and cars when subsidies on them were reduced but the monopolies in importation and distribution are still in the hands of the selected few?

No prizes for guessing just who?

How do they reduce transactions cost when businessmen have to grease at each and every tier and nook and corner?

How to reduce inflation when so many people are getting fat pays for doing almost nothing (in fact their contributions to the economy is negative), while those working their butts out are getting pittance? How to increase efficiency when most of the workers are so poorly trained and motivated?

Just look at the obese public sector alone and then analyze it against the yearly Auditor Generals reports and ask just why are we putting up with this colossal financial hemorrhage year in and year out with no one getting penalized or charged?

Got my drift?

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