Behind every crisis, there is an opportunity as the cliché goes and the opportunity presented by the period of high energy prices has been satisfyingly utilized. Whatever goals scored by economic liberalism in this country, it is definitely one point up:
PUTRAJAYA, Dec 19 – Fuel prices in the country will be determined by the flotation mechanism.
Consumers, he said, should brace themselves for a managed flotation mechanism for oil prices based on market rates.
Shahrir said that many factors had to be examined before finalising the mechanism which includes generating revenue for the Government and providing stronger purchasing power to consumers. [Shahrir: Fuel prices to be determined by flotation mechanism. The Malaysian Insider. December 19 2008]
It may not be ideal but at least, the direction taken deserves endorsement. Gradual improvement is something I can appreciate.
With fuel subsidy and control over fuel prices have been significantly eroded to incorporate greater liberty and less government intervention, it is time to target other supply and price control mechanism.