Friday June 6, 2008
Petrol, power price rise effects begin to kick in
PETALING JAYA: The effects of the increase in fuel price and electricity tariffs have started to kick in.
Just a day after the announcement of the increases, the following developments have taken place:
> Bus and lorry companies announced that they are increasing charges or will be forced to stop services;
> The Federation of Malaysian Manufacturers said its members will pass on any increase in costs to consumers;
> Hawkers and other food operators will wait and see before raising prices; and
> The KLCI closed 29.56 points down, to 1223.56 points. Plantation and banking counters as well as PLUS were the most affected.
Not all was gloomy, however. Transport Minister Datuk Ong Tee Keat said he is looking at whether more reductions on road tax can be given.
Related Stories:
Road tax may be cut further
Lorry transport fees up
Bus services may grind to a halt when quota runs out
Noh: Public transport operators need not fret
Petronas could go bust by 2018
Food costs the same at Puduraya hawker stalls
Government must act to avert price hike
Shahrir: Why now and not in August
Yong: Fuel price hike may result in serious political fallout
Opposition: People won’t be able to cope
Standard of living will be hit, says Dr M
Don’t take part in illegal demos, says Syed Hamid
Manufacturers worry
Tenaga to meet IPPs on helping consumers
Koh suggests measures to soften impact of price rise
Chaos in Sarawak
Bernas reduces fragrant rice’s price
More stories from Starbiz:
Companies across many sectors brace for higher costs
KLCI down 29 points
KFH sees immediate impact on traffic flow
Letters from our readers:
Plan now for petrol dry days
Fuel price hike action rash and bad timing
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