Friday, July 11, 2008

Brace yourself!

As announced by a Minister in the Prime Minister's Department yesterday in Dewan Rakyat, half of Malaysian households have a monthly income of less than RM3,000.

Based on 2007 household income and facilities census by the Department of Statistics Malaysia, of the 5.8 million households in the country:-

a. 8.6% have an income below RM1,000
b. 29.4% had between RM1,000 and RM2,000
c. 19.8% earned between RM2,001 and RM3,000.
d. 12.9% of the households earned between RM3,001 and RM4,000
e. 8.6% between RM4,001 and RM5,000.
f. 15.8% of the households have an income of between RM5,001 and RM10,000
g. 4.9% have an income of RM10,000 and above

To be exact, 57.8% of Malaysia households is and going to be facing more uphill financial difficulties in the on-going price hike on fuel, foods, etc.

Government should have at least studied the impact of fuel hike on this large portion of income earner that faces the most challenges ahead. There is little resources for them to counter and ride above this wave of increment. Inflation looming above 6%. The next will be the anticipated Central Bank interest hike that will push up the Base Lending Rate (BLR) for housing and hire purchase of vehicles. Brace yourself Malaysian!


joshua said...

In good times, we can live with the corruption that is going on...

In bad times, corruption makes things 'badder'...

Nevertheless, life goes on...

The truth is God is good all the time.


cck said...

Let the righteous stand up and speak out the truth at this time. Intimidation ought to be stop