Bersama’s RON95 proposal unrealistic, says DAP Youth leader

DAP Youth deputy chief Raja Ahmad Iskandar Fareez has dismissed Bersama's proposal to float RON95 petrol prices based on market rates, calling it unrealistic and potentially increasing the cost of living. Fareez argued that the proposal fails to account for volatility in the global oil market, which is currently facing high geopolitical risks due to conflicts and attacks.

He warned that a sharp increase in RON95 prices could trigger a chain reaction across the economy, raising costs for various sectors such as transport, logistics, food delivery, and daily necessities. Fareez also questioned whether Bersama's proposed cash assistance would be sufficient to offset the higher costs and prevent them from being passed on to consumers, thus ensuring inflation remains under control.

The DAP Youth leader suggested that the government's existing BUDI95 and BUDI Diesel schemes, which allow for adjustment of subsidy levels based on market conditions while protecting ordinary consumers, were a better approach. He also emphasized the importance of building a reliable public transport network, acknowledging that it would take years to implement.

Until then, Fareez argued that asking Malaysians to pay RM4.32 at the pump would disproportionately affect households least able to absorb the increased costs.