PUTRAJAYA: Tackling the cost of living, increasing the people’s purchasing power and improving the living standards of the B40 group were among issues raised at the Economic Action Council’s (EAC) first meeting.
Chaired by Prime Minister Tun Dr Mahathir Mohamad, the council also sought views and feedback from its members on measures that could be put in place to boost productivity.
The Economic Affairs Ministry, which acts as the secretariat to the EAC, said three papers were presented by representatives from the ministry as well as the Domestic Trade and Consumer Affairs Ministry.
“Aside from the cost of living, the idea of social entrepreneurship as a platform to improve the livelihood of B40 households was also brought to the meeting’s attention as well as the implementation of decisions made by the National Action Council on Cost of Living,” the secretariat said in a statement yesterday.
The secretariat said the government was aware of the difficulties faced by the B40 group and wouldl take immediate measures to stimulate the economy.
The government, it said, was also committed to ensuring fair distribution of wealth and improving the people’s well-being.
In February, the Prime Minister’s Office announced the setting up of the EAC and its 16-strong council members.
Apart from the Prime Minister, other members are Economic Affairs Minister Datuk Seri Azmin Ali, Finance Minister Lim Guan Eng, International Trade and Industry Minister Datuk Darell Leikeng and Works Minister Baru Bian.
Others are the Prime Minister’s economic adviser Datuk Muhammed Abdul Khalid, former international trade and industry minister Tan Sri Rafidah Aziz, Permodalan Nasional Bhd chairman Tan Sri Dr Zeti Akhtar Aziz and Council of Eminent Persons member, economist Prof Dr Jomo Kwame Sundaram, and Public Bank Bhd chief executive officer and managing director Tan Sri Tay Ah Lek.
Majlis Amanah Raya chairman Dr Hasnita Hashim, Bursa Malaysia Bhd chairman Datuk Shireen Ann Zaharah Muhiudeen, Asean Business Advisory Council Malaysia chairman Tan Sri Mohd Munir Abdul Majid, Federation of Malaysian Consumers’ Associations (Fomca) chief executive officer Datuk Paul Selvaraj, lawyer Bah Tony @ Amani William Hunt Abdullah and Masa Institute board of trustees member Nizam Mahshar were also named as council members.
EAC was formed to respond to and act upon the people’s feedback about the problems they face, particularly in economy.
The council’s main aim is to stimulate sustainable economic growth, ensure an equitable distribution of wealth and further enhance the well-being of the people.