Malaysia needs a new economic restructure to face global challenges –PM Anwar

anwar ibr

KUALA LUMPUR:  The Unity Government will be ‘launching’ the ‘MADANI Economy Narrative’ in August this year and before that an immediate policy will be implemented where guidelines and directions will be given to the ministries and departments to follow.

Prime Minister, Datuk Seri Anwar Ibrahim said, the focus on national development is among the vital points listed as a guideline to the public sector, private and investors to be together in leading the competency aspects and the continuity of the national economy.

Anwar who chaired the 2023 second National Economic Action Council Meeting (MTEN) said, the meeting has agreed that the country needs new and economic restructure to handle the economic structural challenges.

“MTEN has studied carefully the presentations from Bank Negara Malaysia, Ministry of Economy and Advisory Council for Ministry of Finance (ACFIN).

“The meeting has also discussed the current situation and the national economic projections – taking into consideration the various challenges that need to counter with care especially involving the national economic structure and the world economy,” he said in his Facebook post.

The Tambun Member of Parliament also mentioned that MTEN has also identified the economic reformations; to form a sustainable high value economy, to improve the social security coverage via the affordability of the people and workers’ market reformation to increase the workers’ salary in stages and these will be decided in the next meeting.

The Prime Minister added, the meeting has also discussed the Direction of the Energy Transition that will be guided by the Road Map Action Programme to ensure the initiative that will be launched will give double impact to the national economy.

Meanwhile at a press conference after the meeting, Anwar said that according to the report presented by the ACFIN, 40 per cent of the government’s subsidy 

has reached the rich people and it is unreasonable why some people defended them. However the people at large are still enjoying the government’s subsidies.

“The electricity and the Tabung Haji subsidies cannot be used by the rich and it is not reasonable,” Anwar said.

He said, the electric tariffs are only applied to the big companies and special groups on top and it does not affect the people. Unlike the former government it was proposed for the electricity tariffs to be increased. – Malaysia World News       



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