He said if an announcement is made too soon, traders could use it as an excuse to impose a series of hikes in prices.

“We need to consider the impact if announcements are made early, because price increases are determined by traders.

“That is why the government decided it would be better to only announce its decision once everything is finalised (at the government level) first, as this would reduce the risk of continuous and repeated price hikes.

“Hence, it is better for the decision to remain known only to the government until everything is finalised,” he told the Dewan Rakyat.

In an interview with Bloomberg at the World Economic Forum in China last month, Rafizi was asked whether targeted RON95 subsidies would be implemented this year with a pre-announced timetable.

“We will keep our cards close to our chest in the same way we surprised everyone with diesel.

“We did surprise everyone with the targeted diesel subsidies and I think everyone is up for another surprise,” Rafizi had said.

Prime Minister Anwar Ibrahim later played down Rafizi’s remarks, saying Putrajaya had made no decision on the matter.

Ronald Kiandee (PN-Beluran) asked today whether this “surprise” approach would help alleviate the people’s burdens.

He also asked what impact it (making announcements in such a manner) would have on the economy and the people.