QUOTE(Sitting Duck @ Oct 23 2009, 07:55 PM)
* To promote prudent spending, a service charge of RM50 a year to be imposed on each principal credit card and charge card; and RM25 a year on each supplementary card, effective from Jan 1, 2010.
-> Need to start canceling all my idle credit cards.. consolidate all my auto bill payment to one card.
-> in short, no more free credit card anymore. minimum service charge of RM50 applies to all cards, including no annual fee credit card.
-> poor credit card salesman will have hard time getting new people to sign up for credit cards..

* To ensure that fuel subsidies only benefit targeted groups, Govt will implement a fuel subsidy management system in early 2010, which will utilise the MyKad.
--> this sounds bad..

Well, I don't see any thing much that benefit the low to middle income group.

the credit card is just aim to suck income from the banks or probably the consumer, the government never intended to "promote" prudent spending i guess. it will hurt the industry unless the bank choose to absorb the fees being imposed, it will inevitably hurt the industry to the core.
Regarding the issue of petrol subsidy for one group only, this sounds bad as to how the government laid the guidelines as to who will get benefit from the subsidy...that is bad...

if they choose to do it by income group, if they set it too low....then no point giving it as those people had consume low fuel, usually by motorbikes or small cars.
Yes, i agree with you, that no much benefit for the low to middle income normal citizens.