YOURSAY | Do away with cartels, open up competition

YOURSAY | 'You have the power to bring the cartel down'.

Industry cartels behind high cost of living, says PM

Variant: So if cartels are the problem why not do away with the cartels then? Let small and medium businesses in the towns and villages work in the free market - compete and bring the prices down.

Instead, your solution is to let the cartels exist and implement more regulations to control them.

How are businesses going to pay higher wages when you are placing a ceiling price on things? So businesses have a ceiling price that you set and yet they have to pay higher wages, then on top of that, you still have them pay company taxes, how much can you squeeze mom-and-pop businesses?

While you're pointing fingers at the people (who both run small and medium businesses and also the same ones you blame for spending on food aka chickens) you are oblivious that all this inflation is because of money printing.

How many treasury bonds were issued to increase the money supply? We all know how much inflation has come about from your money printers.

Stop blaming the people for inflation, there are four fingers pointing back at you! You are a den of vipers and one day the people will realise this, so instead, you should level with the people and speak the truth!

Apanama is Back: Industry cartels in this country are a well-known fact and an open secret. For example, the construction and hardware shops, cooking oil, and eggs industries, among others.

I can say they are a conglomerate at the moment because past administration let them flourish into a conglomerate and of course "you help me and I help you" is there all the while.

Anwar Ibrahim, what are you going to do and what is your Economy Minister, Rafizi Ramli going to do? It is important for Rafizi to outline the guiding principles for the solutions to the challenges.

I for one agreed with Rafizi that the economy faced major challenges, but he remarked that the government’s approach to resolving these challenges remained “cloudy”.

Anwar, I hope both of you could solve this cost of living issue soonest possible. Do not tell me that this is a five-week-old administration. You should have a game plan before forming a unity government.

Do simply blame me and the cartel. You have the power to bring the cartel down. Now it seems the cartels are controlling you.

BOBBYO: Industry cartels, all started from the time Dr Mahathir Mohamad took over. Handing out companies, contracts and even rights to the basic necessities to cronies and family.

Signing toll and energy agreements that were lopsided, all in favour of the concessionaire. Guaranteed profits. If not promises of topping up the loss are signed by the government.

Rice, sugar and even the basic necessities items are handed into the hands of cronies. Prices of items are controlled by them and increased at their whims and fancies or from instruction from their political masters.

The nation did not lose billions, but according to the latest statistic, there is a trillion over ringgit stashed away in the banks of foreign nations. Either in cash, land or buildings bought.

It is time to bring these monies back home. The nation needs it more to at least reduce this huge debt, which is causing our currency to lose its value.

Shame on these so-called Malaysians, who had taken advantage of their position to enrich themselves.

If they had earned the monies through hard work and through legal ways, we give them the credit and are proud of their achievements.

Those who had taken advantage of their positions to enrich them through illegal means should be called traitors.

It is time for Prime Minister Anwar Ibrahim to expose each individual, who has robbed and plundered the nation of their birth. Also to stop further those who are still using their positions to take advantage of this nation.

At the same time, to cut these cartels off, by opening up the market to more competition. Or start pulling out all the subsidies, that they are taking advantage of. Hand these subsidies to those that really need them.

As far as the salaries are concerned, RM1,500 a month is just not enough for those who live in urban areas.

If the government can save or remove the subsidies from those that can afford it, they can maybe give some form of basic necessities to those in the need.

There should be a census taken to find out, who is actually in need. Their names are then put into a central database.

At the present moment, the government is paying out billions to the people, who do not need the fund. The funds are given out through the bantuan packages.

There are many who have registered the names of their fathers, mothers or family members, that are retired or unemployed. The fact is that many come from families that can afford to look after these family members.

Do not be surprised that even some of the Tan Sri's or Dato's family members’ names are on the list of receiving these funds. Even many business owners also have registered the names of their relatives.

Many are really not in need, but collect these funds quietly. Their names should be deleted. We should look at those civil servants that have registered the names of their family members.

If those funds can be channelled to those in need, it will make a lot of difference to eradicate poverty.

Given to those who earn RM1,500 or less. Given through coupons that can be exchanged for basic necessities like rice, flour, sugar or even clothes. This will help greatly those who are really in need.

Purple Gropher 1703: To start a private business, one has to invest own money as capital, cash flow and contingency fund.

Big risks are required from the onset such as paying for loans, rent, equipment, renovation, stock, training, insurance, utilities, vehicles, staff wages, sickness pay, holiday pay, maternity pay, advertisement, council tax and other relevant fees and licenses.

It takes months or years before these expenses are covered by the sales (if it is good and the competition is not too tough).

Only after all that does the company start to make a profit. As there is no guarantee of success in private business, most businesses will start saving up the profit in the form of investments, and savings.

For instance, during Covid, a business that has zero sales still had to bear all the expenses such as wages, rent and loans. This is why most sensible businesses need to profit (more than just cover operating costs).

It is after all that that the business owner gets to see the returns on their investment and hard work, hopefully saving enough for the rainy day and old age.

The majority of these businesses are small to medium-sized and often confused with big multinationals when people criticise businesses and profiteering in the same sentence.

Politicians, government-linked companies (GLC) employees and civil service often have no concept of how a private business is run and the personal risks involved.

The massive difference is that these entities get paid a nice salary with all the various perks plus pension, regardless of performance and profit. They get massive budgets upfront to spend and bailouts when failing.

Hope this helps provide some balance before people start to witch hunt when they see businesses doing well. Be mindful too that most of the taxes to pay for our infrastructure, necessities and luxuries are the result of the effort of private businesses (that incidentally had to compete with GLCs that are given preferential treatment by the state, with a seemingly bottomless deep pocket and a free menu of contracts and licenses).

If there is any true desire to reduce the cost of living and inflation, a good place to start is with GLCs, then civil service. The elephant in the room is corruption and the black (untaxed) economy.

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