KUALA LUMPUR – The 2025 budget will address issues involving the rising cost of living, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who also serves as finance minister, said the government will not neglect its responsibility and its commitment to the welfare of the people.
“Despite the low prices of sugar, oil, flour, and cooking oil, Malaysians still feel burdened by high costs.
“Therefore, in this budget, beyond the ongoing discussions, we must tackle issues related to cartels, monopolies, and the causes of rising prices, such as fertiliser and seeds,” he said at the Finance Ministry’s monthly assembly here.
He said he had also asked policy planners at the ministry to develop cross-ministry solutions.
“When it comes to fertilisers, seeds, and related concerns, we must address these issues by having the Finance Ministry, especially in its role as a planner, coordinate with other ministries.
“The ministry’s expertise in enforcement and policy development will lead to a better understanding,” Anwar said, adding that it was impractical to seek ways to lower the prices of goods.
Also present were Finance Minister II Datuk Seri Amir Hamzah Azizan, Deputy Finance Minister Lim Hui Ying, and Treasury secretary-general Datuk Johan Mahmood Merican.
He also said that the issues with the rising cost of living were due to leakages, corruption, smuggling, and cartels, among other factors.
“While we have some of the cheapest sugar, oil, and flour, I don’t deny the increasing cost of living. Malaysians still feel the strain. They don’t compare their situation with Singapore or Indonesia.”
The 2025 budget will be tabled in the Dewan Rakyat on October 18.
In its pre-budget statement, the Finance Ministry highlighted three key short-term priorities to advance the goals of the Madani Economy.
The first priority is to enhance economic restructuring, focussing on increasing competitiveness and fostering higher value-added activities. This aims to drive economic growth and innovation.
The second priority involves improving the quality of life and expanding inclusiveness of opportunities to ensure broader societal benefits.
The third focus is on strengthening governance and public service delivery, which is essential for effective and transparent management of resources and services. – August 6, 2024