Prime Minister Datuk Seri Anwar Ibrahim has reaffirmed his commitment to combating cartels and monopolies in Malaysia, placing this issue at the forefront of his agenda ahead of Budget 2025, aimed at alleviating the country’s cost of living challenges.
Speaking during a dialogue session on Budget 2025 at the Ministry of Finance in Putrajaya, Anwar acknowledged the persistent burden of rising living costs on Malaysians. Despite the relative affordability of certain commodities like oil, flour, and sugar, he emphasized the need to address broader economic disparities.
"We have to find methods to eradicate cartels and monopolies so the profits can benefit the people directly, through grants, special aids, and various government schemes aimed at improving education and healthcare sectors," Anwar stated.
Highlighting the upcoming third budget under his administration, Anwar outlined plans to enhance public welfare and boost both foreign and domestic trade volumes. He expressed determination to build upon initiatives introduced in previous budgets while reinforcing support for local businesses.
The Prime Minister underscored the importance of restructuring Malaysia's economy and government departments for greater efficiency and integrity in service delivery.
"Our goal is for Malaysia to emerge as a leading economy in Asia," Anwar affirmed.
Budget 2025, scheduled for tabling in October 2024, aims to consolidate these efforts towards economic reform and equitable distribution of resources. Anwar’s strategy includes not only tackling economic monopolies but also enhancing public services crucial to societal well-being.
The commitment to combating monopolistic practices reflects Anwar's broader vision of fostering a fair and competitive economic environment. By redirecting profits from monopolies towards public benefit, the government aims to mitigate the financial strains experienced by Malaysian households.
Anwar Ibrahim's proactive stance on economic reform and social welfare underscores his administration's dedication to inclusive growth and sustainable development. The forthcoming budget is poised to set new benchmarks in addressing the socio-economic challenges faced by Malaysia, aiming for tangible improvements in living standards across the nation.
Kamran is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
The User Content (as defined on Newswav Terms of Use) above including the views expressed and media (pictures, videos, citations etc) were submitted & posted by the author. Newswav is solely an aggregation platform that hosts the User Content. If you have any questions about the content, copyright or other issues of the work, please contact Newswav.