PRESS RELEASE BY F.A.S. !!!

RISING FOOD PRICES

PROVIDED BY F.A.S.

21ST DECEMBER 2017

Food prices have risen dramatically around the world in recent months,fuelling widespread concern and social unrest in communities confronted with devastating price increases when buying provision.Exactly what accounts for this wild upswing in market prices and what do these trends hold for those already living in precarious conditions?

As we can see in Malaysia , one of the causes of food prices risen is GST . WHAT IS GST ? Goods and Services Tax or GST (Goods & Service Tax) is a consumption tax on goods and services.GST announced by the Prime Minister when tabling the 2014 Budget on 25 October 2013 and the GST came into force on 1 April 2015. GST has set a tax rate of 6% for the entire Sales and Services and GST (6%) has replaced the tax system SST (16%) .

Earlier , Subromaniam quoted as saying more than 60 food items will be subject to GST, including several kinds of seafood, vegetables,fruits,tea,coffee,spices and noodles with effect from 1 July 2017, Seafood such as eel, swordfish, corn, frozen,vegetables,fruit imports (avocado,apricot,grape,cherry,peach,plum) figs and margarine will be subject to the GST to 6 % . The government introduced the GST to 6% on goods and services in April 2015 .

We have been hearing a lot of talk about the increase in the prices of goods and services in Malaysia and,of course,all this has been blamed on Prime Minister Najib Tun Razak .What most people do not seem to understandis the reason why prices increase . That is actually the same debate we are having in the UK and this may have an affect on how people will be voting in the next general election that is going to be held next year .

Everything has history. Even inflation has a history. So maybe you can read the very brief history of inflation in the extracts below and familiarise yourself with the subject before you engage in any further debates on the matter. It is most interesting to know that China not only invented paper and began using paper long before the rest of the world even knew what paper was ,but even more interesting is the fact that China also invented paper money and ,with that,they invented inflation as well.

The ringgit continued its momentum biggest drop against the US dollar among currencies in the Asisn region affected by the fall in global crude oil prices and the strengthening of the US dollar. As of 12.30pm 7 January 2015 Wednesday , the ringgit recorded a fall of 0.2 percent to 3.5647 after weakens up to 0.8 per cent to 3.5862 ,making it the lowest level for the last 5 years. The impact in terms of price of Malaysian food because if the currency falls , the price is increasingly rising food and raw material for cooking is aldso expected to increase in coming years.

In conclusion, the rise Goods and Services Tax (GST) , falls of currency and the invention of inflation give a huge impact on the rise of food prices .GST has set a tax rate of 6% for the entire Sales and Services and GST (6%) has replaced the tax system SST (16%) . If inflation is increasing then so do the price of food in our country . And if the currency falls , the price is increasingly rising food and raw material for cooking is aldso expected to increase in coming years.

ABOUT F.A.S.

F.A.S is an organization consists of 3 members which are Fadhillah , Arif and Syahmi . F.A.S. is intentionally created by the bonds of our friendship and always have a purpose for anything that we share . F.A.S. is mostly giving concern to everything that is important such as this current issue .

CONTACT

Arif Mirza Bin Mohd Kamil

arifmirza48@yahoo.com

011-27790892