Global Courant
KUALA LUMPUR – The government is doing its best to help people cope with rising prices of essential goods, says Prime Minister Anwar Ibrahim.
Mr Anwar acknowledged the hardships suffered by many due to the rising cost of living.
“There is a problem, I admit. There are problems regarding the rising prices of goods and basic needs,” he said on Friday after attending the 60th anniversary celebration of Lembaga Tabung Haji.
Mr Anwar assured that the Malaysian government was trying to deal with the rising prices of goods that had affected government expenditure.
He said the case was being investigated by Acting Minister of Internal Trade and Livelihood Armizan Mohd Ali and his deputy Fuziah Salleh.
He said Deputy Prime Minister Dr Ahmad Zahid Hamidi had also raised the issue at the committee meeting of the National Cost of Living Action Council.
“Some countries are facing major social unrest due to, for example, restrictions on rice exports and increases in export taxes on onions,” he said.
“These all have an economic impact and we are trying to address them, but we are addressing the issue.
“The Ministry of Finance is ready to respond, and assistance (to the public) will continue.”
On September 19, Mr Anwar, who is also Finance Minister, said details on the implementation of targeted subsidies would be presented during the upcoming second Madani Budget in October.
He said any rationalization of subsidies would not burden the middle and lower income groups.
He explained that any further adjustment would certainly increase the burden already borne by the poor.
In the upcoming Budget 2024, the middle-income group M40, which is often overlooked when announcing subsidies, wants to see something for them in the federal budget.
The M40 is also struggling to make ends meet amid rising commodity prices and is suffering from middle-child syndrome, according to financial experts, who said the segment has received less support from the government.
