THERE is a peculiar kind of madness in the world. We are talking about fuel subsidies. In capitals across the world, from Jakarta to Abuja, New Delhi to Brasília, policymakers are trapped in a ritual as predictable as it is destructive. Every time global oil prices spike, the same debate erupts. And every time, we settle for the easy lie: that subsidising fuel is an act of mercy. Bernama FILE PIX
