Malaysia PM announces new measures to address rising living costs
Malaysian Prime Minister Anwar Ibrahim delivers his speech during the 58th Association of Southeast Asian Nations Foreign Ministers' Meeting at Kuala Lumpur, Malaysia, July 9, 2025. REUTERS/Hasnoor Hussain/File Photo
KUALA LUMPUR - Malaysia's Prime Minister Anwar Ibrahim on Wednesday announced new measures to address growing public disquiet about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices.
The announcement came ahead of a planned protest to be held in Malaysia's capital Kuala Lumpur on Saturday, calling for Anwar to step down over escalating prices and a failure to deliver on promised reforms, among other concerns.
Anwar's administration has carried out a number of measures to boost revenue and productivity this year, including a minimum wage hike, increased electricity tariffs on heavy power users, and new sales taxes on some imported fruits and luxury goods.
Anwar has said the moves were mainly targeted at large businesses and the wealthy, but critics have voiced fears that higher costs would eventually be passed down to consumers, including lower and middle income earners.
On Wednesday, Anwar said all adult Malaysians above 18 years old will receive a 100 ringgit ($23.67) one-off cash aid to be disbursed from August 31.
The government will spend a total 15 billion ringgit ($3.55 billion) in cash aid in 2025, up from 13 billion ringgit originally allocated for the year, he said.
Police have said they expect between 10,000 and 15,000 people to attend the Saturday protest, which has been organised by opposition parties.
Top stories
Swipe. Select. Stay informed.
Singapore S'pore's domestic recycling rate drops to all time low of 11%
Singapore HDB launches 10,209 BTO and balance flats, as priority scheme for singles kick in
Business Singapore's digital banks finding their niche in areas like SMEs as they narrow losses in 2024
Asia Japan Prime Minister Ishiba to resign by August, Mainichi newspaper reports
World Trump says US will charge 19% tariff on goods from Philippines, down from 20%
Singapore Two found dead after fire in Toa Payoh flat
Singapore 2 foreigners arrested for shop theft at Changi Airport
Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving
"I acknowledge the complaints and accept that the cost of living remains a challenge that must be addressed, even though we have announced various measures thus far," Anwar said.
He added that further initiatives to aid those in poverty will be launched on Thursday.
Anwar said the government will also announce details on a long-awaited plan to remove blanket subsidies on the widely used RON95 transport fuel before the end of September.
Once the subsidy changes are implemented, Malaysians will see fuel prices at the pump drop to 1.99 ringgit per litre, compared to the current price of 2.05 ringgit, Anwar said.
Foreign nationals however will have to pay unsubsidised market prices for the fuel, he added.
Anwar also announced additional allocations for a government programme aimed at increasing access to affordable goods and necessities, and vowed to improve other existing aid measures.
Malaysia has seen inflation fall this year, but worries persist over increasing prices of basic necessities like food.
Data released this week showed consumer prices rising 1.1% from a year earlier last month, but the costs of food and beverages were up at a faster pace of 2.1%. REUTERS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
12 minutes ago
- Straits Times
US House panel rejects immunity request by Epstein associate Maxwell
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Jeffrey Epstein associate Ghislaine Maxwell stands at the podium to address Judge Alison Nathan during her sentencing in a courtroom sketch in New York City, U.S. June 28, 2022. REUTERS/Jane Rosenberg/File Photo WASHINGTON - A Republican-led congressional committee rejected on Tuesday a request by a longtime associate of the late convicted sex offender Jeffrey Epstein for immunity from future prosecution as a condition for testifying to the panel in the midst of a political storm surrounding President Donald Trump. Ghislaine Maxwell, who was convicted in New York in 2021 of helping Epstein sexually abuse teenage girls and is serving a 20-year sentence in Florida, has been subpoenaed to testify privately to the House of Representatives Oversight and Government Reform Committee. The committee has aimed to conduct a deposition of Maxwell, a British socialite who was the wealthy financier's longtime girlfriend, on August 11 at the prison where she is being held in Tallahassee. "Ms. Maxwell cannot risk further criminal exposure in a politically charged environment without formal immunity," Maxwell's lawyer David Markus told Representative James Comer, who chairs the House committee, in a letter. In an emailed statement, a committee spokesperson said: "The Oversight Committee will respond to Ms. Maxwell's attorney soon, but it will not consider granting congressional immunity for her testimony." Markus also had laid down additional conditions for a deposition, including conducting it somewhere other than the prison and being provided with the committee's questions in advance. Maxwell, Markus added, would testify to the committee in a public setting if she were to be granted clemency. Maxwell is asking the U.S. Supreme Court to overturn her conviction. Trump has said he was not considering a presidential pardon for Maxwell. Questions over Trump's past relationship with Epstein, who died by suicide in a New York jail in 2019 while awaiting trial on charges of sex trafficking minors, and his administration's handling of records related to the case have dogged the president for weeks, including during a weekend visit to Scotland. Trump knew Epstein socially in the 1990s and early 2000s. Trump has said that he cut off ties with Epstein years before Epstein's death. Democrats in Congress and some of Trump's core supporters have demanded the release of documents involving Epstein and Maxwell. Epstein served a 13-month jail sentence after pleading guilty in 2008 to a Florida state felony prostitution charge. Democrats on Tuesday sought more information about the matter. Dick Durbin, the No. 2 Senate Democrat, and Senator Sheldon Whitehouse wrote to the Justice Department, asking for a copy of the transcript of a recent conversation a department official had with Maxwell. In addition, Senate Democratic Leader Chuck Schumer called on the FBI to conduct a "counterintelligence threat assessment" to determine the risk to U.S. national security if a foreign entity were to gain access to the Epstein files. "Could our adversaries use that information to blackmail someone like the president or other senior leaders in government?" Schumer asked. REUTERS
Straits Times
12 minutes ago
- Straits Times
Bessent warns China on Russian oil purchases that could bring 100% tariffs
Sign up now: Get ST's newsletters delivered to your inbox U.S. Treasury Secretary Scott Bessent attends a press conference at government quarters Rosenbad after the trade talks between the U.S. and China concluded, in Stockholm, Sweden, July 29, 2025. Magnus Lejhall/TT News Agency/via REUTERS STOCKHOLM - U.S. Treasury Secretary Scott Bessent on Tuesday said he warned Chinese officials that continued purchases of sanctioned Russian oil would lead to big tariffs due to legislation in Congress, but was told that Beijing would protect its energy sovereignty. Wrapping up two days of U.S.-China trade talks in Stockholm, Bessent said he also expressed U.S. displeasure at China's continued purchases of sanctioned Iranian oil, and its sales of over $15 billion worth of dual-use technology goods to Russia that have bolstered Moscow's war against Ukraine. Bessent said legislation in the U.S. Congress authorizing Trump to levy tariffs up to 500% on countries that purchase sanctioned Russian oil would draw U.S. allies into taking similar steps to cut off Russia's energy revenues. Trump on Monday shortened a deadline for Moscow to make progress toward a Ukraine war peace deal or see its oil customers slapped with secondary tariffs of 100% in 10 to 12 days, reflecting his growing frustration with Russia's actions. "So I think anyone who buys sanctioned Russian oil should be ready for this," Bessent told a news conference. Chinese officials responded by saying China was a sovereign nation with energy needs, and oil purchases would be based on the country's internal policies, Bessent said. "The Chinese take their sovereignty very seriously. We don't want to impede on their sovereignty, so they'd like to pay a 100% tariff," Bessent said. Top stories Swipe. Select. Stay informed. Business No clarity yet on baseline or pharmaceutical tariffs with US: DPM Gan Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Singapore Terrorism threat in Singapore remains high, driven by events like Israeli-Palestinian conflict: ISD Singapore Liquidators score victory to recoup over $900 million from alleged scammer Ng Yu Zhi's associates Singapore Man on trial for raping woman who hired him to repair lights in her flat Sport IOC president Kirsty Coventry a 'huge supporter' of Singapore Singapore Child and firefighter among 7 taken to hospital after fire breaks out in Toa Payoh flat Singapore S'pore can and must meaningfully apply tech like AI in a way that creates jobs for locals: PM Wong China remains the largest buyer of Russian oil, at about 2 million barrels per day, followed by India and Turkey. Bessent said he also has warned his counterpart, Vice Premier He Lifeng, that China's continued sales of goods to Russia that wind up in weapons will hurt its efforts to boost trade ties with Europe. "I pointed out to them that it is very much hurting their public perception in Europe that they are contributing to the war on the European border," Bessent said. REUTERS
Straits Times
12 minutes ago
- Straits Times
Saudi Arabia, France seek support for declaration on two-state solution between Israel, Palestinians
Sign up now: Get ST's newsletters delivered to your inbox Britain's Foreign Secretary David Lammy addresses during a High-level International Conference for the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution at U.N headquarters in New York City, U.S., July 29, 2025. REUTERS/Eduardo Munoz UNITED NATIONS - Saudi Arabia and France on Tuesday called on countries at the United Nations to support a declaration that outlines "tangible, timebound, and irreversible steps" towards implementing a two-state solution between Israel and the Palestinians. The seven-page declaration is the result of an international conference at the U.N. this week - hosted by Saudi Arabia and France - on the decades-long conflict. The United States and Israel boycotted the event. "We call on you to support this document before the end of the 79th session of the General Assembly by contacting the missions of Saudi Arabia and France in New York," Saudi Foreign Minister Faisal bin Farhan Al-Saud told the conference on Tuesday. The 80th U.N. General Assembly is due to start in September. The first step outlined in the declaration is to end the 22-month war between Israel and Palestinian militants Hamas in the Gaza Strip. "Following the ceasefire, a transitional administrative committee must be immediately established to operate in Gaza under the umbrella of the Palestinian Authority," it reads. The Palestinian Authority currently exercises limited self-rule in the West Bank under Israeli occupation. The declaration supports the deployment of a temporary international stabilization mission, mandated by the U.N. Security Council, and welcomes "the readiness expressed by some member states to contribute troops." It calls on Israel's leadership to "issue a clear public commitment to the two-state solution, including a sovereign and viable Palestinian State," to immediately end violence and incitement against Palestinians, and to halt all settlement, land grabs, and annexation activities in the Occupied Palestinian Territories, including East Jerusalem. Top stories Swipe. Select. Stay informed. Business No clarity yet on baseline or pharmaceutical tariffs with US: DPM Gan Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Singapore Terrorism threat in Singapore remains high, driven by events like Israeli-Palestinian conflict: ISD Singapore Liquidators score victory to recoup over $900 million from alleged scammer Ng Yu Zhi's associates Singapore Man on trial for raping woman who hired him to repair lights in her flat Sport IOC president Kirsty Coventry a 'huge supporter' of Singapore Singapore Child and firefighter among 7 taken to hospital after fire breaks out in Toa Payoh flat Singapore S'pore can and must meaningfully apply tech like AI in a way that creates jobs for locals: PM Wong The declaration commits to adopting restrictive measures against violent extremist settlers and those who support illegal settlements, and adopting targeted measures "against entities and individuals acting against the principle of the peaceful settlement of the question of Palestine, through violence or acts of terrorism, and in breach of international law." It also describes regional integration and independent Palestinian statehood as "intertwined objectives." "Only by ending the war in Gaza, releasing all hostages, ending occupation, rejecting violence and terror, realizing an independent, sovereign, and democratic Palestinian State, ending the occupation of all Arab territories and providing solid security guarantees for Israel and Palestine, can normal relations and coexistence among the region's peoples and States be achieved," it reads. REUTERS
