Thoughts on Prices

A lot has been written and said about the decision to reduce subsidies for petrol, diesel and gas, and raise the electricity tariff. The speed of implementing the new changes as well as its quantum has surprised and angered many. This was not a political decision. No Government in the world would make such a decision if politics were the only consideration. I believe the decision was based on economic necessity. It was based on the global price of crude oil, the impending economic disaster of continuing with high subsidies and the depleting reserves of our oil. Read more...