PUTRAJAYA: Rising prices and cost-of-living pressures will be a key focus of this week’s Cabinet meeting as the government seeks more effective ways to ease the burden on Malaysians, says Datuk Seri Anwar Ibrahim.
The Prime Minister said the matter would be tabled at Wednesday’s (May 6) Cabinet meeting following feedback from the public, including small traders who continue to feel the impact of gradual cost increases.
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"Last Friday I ate at a small stall in Rawang. I spoke with the shop owner, and she said business was okay, good, but there is a slight problem: every week, there is a small increase in the price of supplies.
"So if it’s a little and a little and a little over three weeks, eventually it will affect the shop.
"What I heard from her is that small businesses will certainly feel the impact. So I will raise this issue at the Cabinet meeting on Wednesday," he said at the Natural Resources and Environmental Sustainability Ministry monthly assembly here on Monday (May 4).
Anwar acknowledged that while the government has rolled out measures to address the issue, challenges remain in fully containing rising costs.
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"Do I deny there are problems in terms of the cost of living and prices? I do not deny it. Yes, it must be handled wisely.
"We cannot do everything, but (for) some of it, yes, we must help. Look at the Budi subsidies (which we provide) every month... and if this (rising prices) continues, the cost becomes too high.
"We are still maintaining Budi because too many people depend on it, but there are matters that are difficult for us to control," he added.
He also highlighted the sharp increase in subsidy costs, particularly for fuel, underscoring the need for targeted measures.
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"In January, when I announced the RON95 subsidy, we were bearing RM700mil (each month). Within a short while, it rose to RM5bil a month.
"I still said okay, but the Treasury secretary-general and Chief Secretary to the Government said it could not continue because the available funds cannot sustain it.
"So it is still manageable for one, two or three months.
"That is why we have taken action, including rationalising diesel subsidies, because there were significant leakages, abuse and even smuggling," he added.
