PRIME Minister Datuk Seri Anwar Ibrahim said the government's measures for structural reforms have proven to be effective.
This he said was seen through the strengthening of the ringgit, the increase in investments, and the positive trajectory of economic growth.
"The Madani government had summoned "firm political courage" to rationalise subsidies and achieve these successes, at the risk of being unpopular.
"If we had chosen to play safe and do nothing, knowing that the continued situation would only take us on the road to bankruptcy, then that would be a dereliction of the moral duty of good and responsible governance.
"But did we take this action, including implementing electricity tariff adjustments, and floating prices of certain essentials to inflict pain and suffering on the rakyat? Certainly not," he said in his speech at the Khazanah Megatrends Forum 2024.
He said that while the majority of the people would continue to enjoy the subsidies they deserve to have, the wealthy and the big industries must pay what they ought to.
He stressed that the reforms were not taken to inflict pain and suffering on the public, but were done so they could continue to enjoy the subsidies they deserve to have while the elites “must pay back what they ought to”.
Anwar, who is also finance minister, said the billions of ringgit saved from subsidy rationalisation were now being channelled back to the people in terms of other subsidies and cash transfers. - October 7, 2024
Anwar also assured that the government would not rest on its laurels, be complacent, or let their guard down in the face of regional and global challenges.
He reiterated his commitment to ensuring that Malaysia thrived in the global environment, and determined to create a pathway to raise incomes, eradicate poverty, and a just, sustainable and inclusive growth. - October 7, 2024
