Adapting our lifestyles to suit the current realities

THE government’s proposal to reduce the Budi Madani RON95 (Budi95) fuel subsidy scheme quota to 150 litres a month, while not yet finalised, says a lot about the challenges Malaysia is facing amid rising geopolitical uncertainties.

Whether this proposal comes into force or not, the truth is the government is under pressure to manage spending more carefully and prioritise where resources go.

But adjustment cannot come only from Putrajaya. The entire country needs to adapt, including businesses, government-linked companies, national investment institutions and us, the rakyat.

Malaysians can no longer afford to think only in the short term.

We often talk about long-term planning in abstract economic terms. But sometimes the results can be seen right in front of us.

In this context, let me share my experience of visiting Bangunan Sultan Abdul Samad over the weekend with several friends from overseas. For the first time in a long while, I genuinely felt proud walking around the area again.

The building looked magnificent. The surroundings felt alive. There was movement, energy and a sense that this part of Kuala Lumpur mattered once more.

This is what long-term planning looks like. It is not only about the years it took for Khazanah Nasional to restore this iconic colonial-era building; it is also about the returns we gain as a nation, whether through tourism, renewed national pride or stronger local economic activity in the years and decades to come.

The broader point is that meaningful change often requires patience and the willingness to endure some discomfort in the short term.

Just as fiscal adjustments are rarely popular, long-term investments do not always produce immediate returns.

But avoiding difficult, bold and calculated decisions altogether usually creates bigger problems later on.

Just to go back to Khazanah: this is why institutions entrusted with growing national wealth cannot afford to think only in quarterly cycles or react purely to short-term public sentiment.

For example, in the past, some questioned why Khazanah invested overseas, arguing that the money should only be spent locally.

Many forget that sovereign wealth funds around the world also invest overseas, often because the returns can be more lucrative.

Some investments may take years, even decades, to bear fruit, but that is the nature of long-term investing. It requires patience, courage and the ability to look beyond short-term gains.

The returns from such investments are what eventually make possible projects like the restoration of Bangunan Sultan Abdul Samad as well as their broader economic spillover on Malaysians over the years.

The same principle of thinking long-term should apply as we collectively face an increasingly uncertain world, sparked by the tension in the Middle East. To ensure we pull through, we may need to adjust expectations and adapt our lifestyles to match current realities.

None of this is easy. But Malaysia cannot afford to only chase immediate comfort while resisting necessary adjustments. Hard choices will sometimes have to be made, whether by the government, businesses or national institutions tasked with safeguarding the country’s long-term future.

LUCIEN SOH

Kuala Lumpur