Heard of this phrase before "pay more for fast results"?
Two types of services will see an increase of prices / fees in due course which will hit people like me and you.
Firstly - legal fees especially for the fees to be paid to lawyers who will appear in court on your behalf. The Bar Council has announced a potential increase of about 300% to 400% of the legal fees. One of the reasons given for the increase is that the lawyers would have more responsibilities.
With such an increase, it's very doubtful that legal avenue would be out of reach for the general public and the services would only be available / reserved for those rich and powerful.
Even at this point of time, I have friends who are not willing to go to court even though they could hold the advantage of winning a case. Reason? It's already expensive now. To justify the huge increase, it was said that lawyers will have to resolve the cases at a quicker pace to match the courts' KPI where it has to close a case at a faster pace.
For this quicker pace, you and I would have to be prepared to pay through your nose.
Then out of a sudden, the central bank allowed for the huge increase of motor insurance premium between 250% and 450% which will take effect from 2012. However, the increase will be on a staggered basis up to year 2016 before the real premium is left to the market forces.
It was a joke to say that the low income people won't be greatly affected as it's being staggered over a period of four years. What about four years later? The existence of low income people in Malaysia has evaporated?
Main advantage for the huge increase - so that you and I can make a faster insurance claim.
On both of the above increases, the word "faster" is so vague. There's no dateline put on it and it's just plain talk again. Who will lose in the end? The consumers again.
And the government dare to say that the inflation rate is still below 5%?
Reading: Motorists to pay higher insurance premiums but will enjoy faster claims - Star
Reading: Price for faster ‘justice’ - Star
Tags: Legal Fee, Bar Council, Court, Lawyer, Motor Insurance Premium, Central Bank