University Students Decry Rising Prices

International Islamic University of Malaysia (IIUM) students and the union president, Aliff Naif (front, third from left) gathered together demanding the government to speak up about the inflation

Source: FreeMalaysiaToday

A group of students from the International Islamic University of Malaysia (IIUM) informed the government regarding the increased cost and inflation that has affected university students and their families. The students wanted the government to know the struggles that many students and families are facing, especially when it concerns their financial stability.

IIUM student union’s president, Aliff Naif had set demands for the government which included cutting salaries of ministers, additional support for those who are in need and even price control of food sold at universities. He said that if the demands are not met, they would protest regarding the inflation on the streets with a bigger crowd.

Amirah Fattonah, a 21-year-old student at Universiti Teknologi MARA (UITM), a public university catered for “bumiputeras” and students with low income backgrounds, says, “The rising cost has been a burden for me as a student since I don’t have a source of income besides my allowance. However, even though I do calculate my spendings, inflation greatly affects my cost of living since everything is expensive, even for someone who has support.”

Some students skip their meals and starve just to save up money and not for themselves without burdening their families. Meanwhile, foreign students who continue their studies in Malaysia find the cost of living affordable due to the drop of the exchange rate.

However, students can take loans from Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) or better known as National Higher Education Fund Corporation. In some cases, the loans would not be sufficient for the students and they would have to find a side income

Another student from UITM, 22-years-old Anis Adriana says, “In general, the living cost in Malaysia keeps increasing while the basic salary rate of RM1,500 is not enough to cover the basic expenses. If we were to compare a trolley of necessities for a single working person, the cost right now would be triple the cost in 2016.”

Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)’s logo

Source: PTPTN.Gov

The Department of Statistics Malaysia (DOSM) figures reported in The Edge Markets on the country’s inflation, which is measured by the consumer price index (CPI), shows an increase of 3.4% as of June 2022 from a year earlier, led by an increase in food prices of 6.1%. The food index increased with a 6.1% which remains as the prime contributor to the rise in inflation in June 2022.

Department of Statistics’ Malaysia reports on the Consumer Price Index (CPI) as of June 2022 this year

Source: Department of Statistics Malaysia Official Portal

Recently, the prices of chicken and eggs have increased which were set to its ceiling price by the government as the decision was made in regards to the Bantuan Keluarga Malaysia (BKM) that was announced by the Prime Minister, Datuk Seri Ismail Sabri Yaakob. The Star reported that the BKM is a cash aid up to RM500 only for B40 and M40 groups.

Reported by The MalayMail, Ismail Sabri said the combination of all factors from the challenges they faced such as, climate change, the pandemic and the recent Russia-Ukraine conflict is the reason for increased cost of goods. He also said that in order to reduce inflation, the government had allocated RM77.3 bil of subsidies and that Malaysia’s retail trade showed a solid growth year-on-year of 44% to RM132.8 bil in June.

Ismail Sabri said, “I hope all the parties will continue to support all initiatives that are implemented by the government for the well being of Keluarga Malaysia.”

Currently, canteens at most universities are not at a fixed price and there is a chance of it going up which is a problem for students. PTPTN cannot solve all students’ financial problems and therefore, some students are forced to take up part time jobs which is not enough to fund themselves especially with the minimum salary wage. The rising cost of price also takes a toll on students’ mental health as they are overworked with their assignments combined with their part time jobs which can drive them to attempt suicide.

Anis said, “If prices in Malaysia continue to increase, not only university students but people in general will need to be prepared for a high cost of living.”