Category: Economy

1974 Budget – A widespread disappointment

Press Statement by DAP Secretary-General & Member of Parliament for Bandar Melaka, Mr. Lim Kit Siang on 6th December 1973

1974 Budget – A widespread disappointment

It is a matter of widespread disappointment that the Finance Minister, Tun Tan Siew Sin, did not have the political will or courage to abolish the Sales Tax and surtax on imports as the main government weapons to fight inflation in the country.

The Sales Tax and the surtax must take the blame for the galloping inflation in Malaysia, which in 1973, see prices skyrocketing by 10% according to government estimates. This is a conservative government figure, and the reality must be very much higher.

So long as the Sales Tax and surtax on imports are allowed to remain intact, it is unlikely that the government would be able to effectively bring down the prices of all items. This is why the announcement yesterday in the Budget presentation of the abolition of import duty of 33 food and non-food items will not appreciably bring down prices to make cheap food and reasonable cost of living a reality for Malaysians in 1974. Continue reading 1974 Budget – A widespread disappointment

Lim Kit Siang warns against using of emergency powers to control rice situation

Ketua Pembangkang and DAP Secretary-General, Mr. Lim Kit Siang, today issued the following statement (9.10.1973):

Lim Kit Siang warns against using of emergency powers to control rice situation

The Deputy Prime Minister, Dato Hussein Onn, said yesterday that the government will muster all resources and, if necessary, use its emergency powers to impose heavier penalties on rice smugglers, hoarders and profiteers.

The Opposition is opposed to the use of emergency powers in normal times, for it will lead to considerable abuse of powers.

If the government feels that the penalties for rice smugglers, hoarders and profiteers are inadequate, the government should convene an emergency session of Parliament to increase these penalties.

An emergency session of Parliament can be called in a matter of three or four days, as was done when the Parliament was convened in emergency session within a matter of days in 1967 to change the constitution to topple Dato Stephen Kalong Ningkan as Chief Minister of Sarawak. Continue reading Lim Kit Siang warns against using of emergency powers to control rice situation

Not fair to put the blame for price increases on retailers

Speech by Ketua Pembangkang and DAP Secretary-General, Mr. Lim Kit Siang, at a Public Rally at Chemor on Sunday, 7th October 1973 at 8 p.m.

Ministry of Trade and Industry should not put the blame for price increases on retailers but should take action to stop price increases at production and importer level

With the spiraling increases in all prices, the Ministry of trade and Industry should sympathise with the difficulties of retailers and not put the blame for price increases on retailers, or encourage the people to have such an attitude.

Several months back, Alliance Ministers were suggesting that consumers boycott retailers because of price increases. Last month, when the rice crisis recurred a second time in a period of four months, the LPN at first blamed the retailers for hoarding and claimed that there was plenty of rice in the country. In actual fact, there was rice shortage and the retailers themselves were unable to get rice supplies – which was later admitted by the LPN.

Although there are some profiteers who try to make a quick profit, the retailers are not the cause of price increases. They are themselves the victim of prices inflation, which have greatly complicated their human relationship problems with their customers, especially in the remote areas. Continue reading Not fair to put the blame for price increases on retailers

Three Proposals to fight galloping inflation in Malaysia

Speech by Ketua Pembangkang and DAP Secretary-General, Mr. Lim Kit Siang at the 7th Anniversary Dinner of the Perak DAP held at the St. John’s Ambulance Hall, Ipoh, on Saturday, 6th October, 1973 at 9.00 p.m.

Three Proposals to fight galloping inflation in Malaysia

In the last 2 years, inflation has become the most outstanding problem for the people of Malaysia.

Price increases of all goods keep chasing one after another, some shooting up by more than 100% increase, while the purchasing power of the Malaysian dollar in the hands of the housewives and consumers continue to fall.

Inflation is highly inequitable and unjust as it bears heavily on those getting low and fixed incomes, thus widening the gap between the haves and have-notes.

It is regrettable but true that for the last 2 years, the Alliance Government has failed to work out an effective strategy to fight inflation. The Alliance Government appeared to be completely helpless in the face of rising prices for all consumer products. In actual fact, it will be more correct to say that the Alliance Government does not have the will or determination to combat inflation. This is because while the majority of the people suffer from price inflation, there is a tiny minority which makes huge “windfall” profits from it. And it is this tiny minority of people who have traditionally formed the financial backbone of the ruling party. Continue reading Three Proposals to fight galloping inflation in Malaysia

DAP wants the LPN to give a solemn promise that all the 20000 rice dealers will have their licence renewed

DAP Secretary-General and Member of Parliament for Bandar Melaka, Mr. Lim Kit Siang, today issued the following statement (27.9.1973):

DAP wants the LPN to give a solemn promise that all the 20000 rice dealers will have their licence renewed and not a single person will suffer cancellation of licence

On Monday, I warned the large numbers of 20000 rice licences which expire in a few days, on 30th September, have not been renewed, and that this could disrupt the rice trade and create an even worse rice crisis in the country.

We read in the press today that an unnamed Selangor MCA spokesman proudly claimed that as a result of the energetic representation of the Selangor MCA, the LPN has agreed to an extension of the dateline for the renewal of rice licences. The rice dealers in the country were told to be calm and not to be worried.

The DAP would like to know why the Selangor MCA is helping the LPN to cover-up its incompetence and inefficiency in performing a simple routine job of renewing the rice licences, especially as these applications were sent in three or four months back.

The DAP deplores the LPN failure to renew the rice licences in time by 30th September. It is even now at this late hour, possible to take swift administrative action to have all the licences renewed by 30th September. Continue reading DAP wants the LPN to give a solemn promise that all the 20000 rice dealers will have their licence renewed

LPN should reorganize itself to eliminate maladministration, inefficiency, bungling, corruption and bureaucratism

Ketua Pembangkang and DAP Secretary-General, Mr. Lim Kit Siang, today issued the following statement (24.9.1973):

LPN should reorganize itself to eliminate maladministration, inefficiency, bungling, corruption and bureaucratism

On Saturday, 22nd Sept., while I was motoring up to Penang to attend the 7th Anniversary Dinner of the Penang DAP, I experienced first hand how stupidly, without imagination whatsoever, the authorities are trying to cope with the second rice crisis this year.

Leaving Bagan Serai and the Perak State Border, and coming to the Sungai Krian Bridge, there was a roadblock and check, presumably to prevent the people of Perak from smuggling rice into Penang.

Having passed the roadblock and crossed the Sungai Krian Bridge, there was another roadblock, this time presumably to prevent the people of Penang from smuggling rice into Perak.

The distance between the two roadblocks is hardly 100 feet, separated only by the Sungai Frin Bridge. Continue reading LPN should reorganize itself to eliminate maladministration, inefficiency, bungling, corruption and bureaucratism

DAP wants the LPN and Government to tell the people the full facts about the rise situation in the country

Speech by Ketua Pembangkang, DAP Secretary-General and Member of Parliament for Bandar Melaka, Mr. Lim Kit Siang, at the Seventh Penang DAP Anniversary Dinner held at Fortune Restaurant on Saturday, 22nd Sept. 1973 at 9 p.m.

To counter soaring prices, DAP calls on government to (a) make immediate payment of a COLA of 40% of salary to all low-paid government employees; and (ii) issue a Cabinet guideline to all private employers to make a similar 40% COLA payment to their employees

For over a year, there has been continuous and rapid rise in prices accompanied by continuous fall in the purchasing power of the Malaysian dollar, bringing acute sufferings and hardships to the majority of Malaysians who have low or fixed incomes.

The consumers and the poor have been made to bear the full brunt of the inflation, with the rich getting away scot-free. All the price increases, whether stemming from imported or domestic inflation, price-fixing by cartels and monopoly enterprises, artificial manipulation of the market, or from the government’s highly inflationary fiscal policies such as the Sales Tax, are simply passed on to the final consumers.

Under the present free enterprise system, it is easy for capitalists to insist and maintain their huge profit margins before the inflation. In facts, there are even capitalists who take this opportunity of inflation and confusion to inflate their huge profit margins. Thus, last month, the Finance Minister, Tun Tan Siew Sin, admitted that one of the major causes of inflation was that some importers make profits of 100 per cent or more.
Continue reading DAP wants the LPN and Government to tell the people the full facts about the rise situation in the country

DAP Suggests Second Malaysia Plan Re-orientation to help the poor of all races

Speech by Parliamentary Opposition Leader and DAP Secretary-General, Mr.Lim Kit Siang to Party members at DAP Alor Star Branch on Sunday, 26th August, 1973 at 8.00p.m.

DAP Suggests Second Malaysia Plan Re-orientation to help the poor of all races and not to create a Class of Malay rich to keep company with the Non-Malay rich

The Second Five Year Malaysia Plan is well past its half way mark, and there are only 850 days left for the Plan.

All that the Alliance New Economic Policy has succeeded in doing is to create a new class of bumiputra rich while the masses of bumiputras and Non-Malays remain poor and down-trodden.

The DAP is opposed to an economic policy which make the rich richer and the poor poorer. We want the Second Malaysia Plan to be re-orientated to give emphasis or priority to the upliftment of the poor of all races and not, as of now, the creation of a bigger class of Malay rich to keep company with the non-Malay rich. Continue reading DAP Suggests Second Malaysia Plan Re-orientation to help the poor of all races

Call for White Paper on inflation crisis

Speech by Opposition Leader of Parliament, and DAP Secretary-General, Mr. Lim Kit Siang, at a Public Rally at Sungei Patani, Kedah on Friday, 17th August 1973 at 8p.m.

DAP calls for a Government White Paper on the Inflation Crisis and the measures the government proposes to take to put the value back into the Malaysian dollar

Yesterday, the government, in approving a 20% increase in the price of flour, has sanctioned a new round of price increases. As a result of the government decision, bread, biscuits, kway teow, mee, mee hoon, and other foodstuffs will spiral up in price, gravely compounding the budgeting problems of the poor and low-income families.

It is a matter of regret and deep disappointment that the first decision of the new Cabinet is to give another round of concession to the runaway inflation, rather than the taking of concrete and positive measures to fight inflation. Continue reading Call for White Paper on inflation crisis

Galloping and persistent inflation makes a mockery of the 2nd Malaysia Plan

Speech by DAP Secretary-General and Member of Parliament for Bandar Melaka, Mr.Lim Kit Siang, at the first anniversary of DAP Kampung Simae Branch on 12/8/73 at 8pm.

Galloping and persistent inflation makes a mockery of Alliance Government’s second Malaysia Plan to restructure society and eliminate poverty in Malaysia

For more than a year, Malaysians have experienced the worst crisis of inflation in the history of the country. Inflation has in fact become major national problem today.

As a result of the unchecked, galloping and persistent rise in the prices of all goods, including essential and daily necessities, the value of the dollar in the hand of a consumer has shrunk considerably by 10 to 15 per cent.

In this situation, the people who are the worst hit are the poor, the low-income and the fixed-income; while the rich and affluent are hardly affected. Continue reading Galloping and persistent inflation makes a mockery of the 2nd Malaysia Plan