Greed actual cause of rising prices

by | Dec 19, 2022 | NATIONAL, NEWS, Opinions | 0 comments


Malaysians are flabbergasted that since the Covid 19 pandemic, the prices of goods and services has been steeply on the rise and they are fearful, frustrated and angry over what is happening with the authorities seemingly clueless over what to do.

While the elite and super rich in this country go about life as usual, it is those in the low income group that are bearing the brunt of the suffering and appealing to the authorities to do something to rein the rising cost of living.

Will it happen? Will the prices of goods and services stop going up so often and so rapidly? Are the authorities able to come up with mechanisms such as price controls in this country as the free market appears to have veered out of control.

While the same cannot be stated for the worldwide increase in prices, in Malaysia greed or profiteering is the actual cause of escalating prices and consumers, retailers, manufacturers and others must undergo an awareness program or education on being greedy.

Currently, most businesses are increasing prices to cover for the losses they incurred during the pandemic and this is an unjust situation. By hiking up prices they have only created suffering, misery and hardship for everyone.

It is understandable that the reason to go into business is the bottomline or profit taking.  But in Malaysia many businesses are not just profiting but profiteering and this menace must be put to a stop by the government.


** The views expressed on this opinion is of the writer and not the publisher