The Malaysian Prime Minister tries to curb rising inflation.
The Prime Minister of Malaysia has taken a new step in the direction of checking hyperinflation rates in the country. A thrift store by the name of KR1M (Kedai Rakyat One Malaysia) will open up in Kuala Lumpur. Items of daily use will be on sale at over 50% discount rates. This is a lucrative opportunity for bargain-hunters. Goods such as rice, milk and diapers will be sold without any profit-seeking.
The Najib government is expected to hold elections within a year’s time. However, rising prices of utilities such as fuel, electricity and sugar are cause for concern. They have led to public outcry and anger directed at the government’s blunders. There have been protests by various consumer groups which has caused prices to further rise. The government has to cut subsidies so that the budgetary deficit is lassoed back to normal proportions.
The constant push and pull of economic factors are best handled by politicians with an agenda for general welfare. And as everyone knows economics is too important to be left to the economists.