PETALING JAYA, March 21 — Malaysians are making a mad rush to stock up on various products in anticipation of being hit by the Goods and Services Tax (GST) that kicks in on April 1.
Brendan Wong, 46, who works in marketing communications said he was stocking up on supplements this month.
“I bought enough vitamins to last me the year,” he said.
Wong said he accepted the GST would be implemented and that there was no way around it.
He added it made sense to purchase the supplements now before the price increased by six per cent.
Another consumer, who wanted to be known as Gaik, said she bought more than RM700 worth of health supplements at a pharmacy in Taipan last month.
She ended up with three months’ supply.
“When I asked the pharmacist whether supplements fall under GST, she said they did. So, I stocked up,” she said.
Gaik, 56, a homemaker since retiring four years ago, said she was concerned how much more the supplements would cost after GST was factored in.
“Some of my supplements are expensive, including my husband’s cholesterol-reducing pills,” she said.
“The pharmacist said I would save more than RM40.”
She said he had always been careful with her money.
“I have always compared prices to see which shops offer better deals. I will do whatever I can to save,” she said.
Gaik also said in order to save money, she had started buying various household items to avoid paying more after GST.
“When I heard about GST, I thought I should be buying whatever I can now. Now, we only pay service tax at certain outlets,” she said.
“Imagine paying taxes for almost everything you need.”
Communications student, Abigail Yow, 23, decided to buy electronic items before GST sets in.
“I don’t know by how much prices may increase but everyone has been talking about it,” she said.
“I bought my camera just a week ago because I was afraid it might become more expensive,” she said.
Yow added she would have waited a few more months before buying the camera if there was no GST.
Financial adviser Mark Tan, 55, said he bought extra boxes of toner after a computer shop advised him to do so.
“My wife and I bought more toner and stationery as well,” he said.
Tan said he did not believe it was the right time to implement GST.
“The economy is unstable at the moment. They picked the worst time,” he said.
N. Balachandran related how his regular pub was having a pre-GST promotion and encouraged customers to buy any number of liquor bottles before April 1.
The customers, he said, could then take their time to consume the drinks.
“On the average, I open about 10 bottles a month to entertain clients. This promotion offers significant savings,” he said.
“Clubbers and pub goers are anxious to know the pricing after GST but nobody seems to be able to tell us.
Many are cashing in while they can. By April 1, I am sure everyone will be taken by surprise.”
Consumers also face further increase in prices of everyday goods at various outlets even before GST hits.
These include chicken rice (RM5 to RM5.50), lighter (RM1.20 to RM1.50), iced Milo or Nescafe (RM2.60 to RM2.80), roti canai (RM1.20 to RM1.50) and car wash (RM18 to RM20 for big cars).
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