Prime Minister Anwar Ibrahim has announced a sweeping relief package aimed at easing the financial strain on millions of Malaysians, as his government confronts mounting anger over surging living costs and new taxes.
In a special address broadcast on national television and social media on Wednesday, Anwar pledged a one-off payment of 100 ringgit (US$24) to all Malaysians aged 18 and above. The cash handout, timed to coincide with National Day on August 31, is expected to reach around 22 million people and cost the government approximately 2 billion ringgit (US$472 million).
A money changer counts Malaysian ringgit banknotes in Kuala Lumpur. Malaysia’s new cash handout is expected to reach around 22 million people. Photo: AFP
In a further move to soothe public frustration, Anwar said that from September, about 18 million motorists would be eligible for subsidised RON95 petrol at 1.99 ringgit (47 US cents) per litre, down from the current price of 2.05 ringgit. It was not immediately clear how the reduced price would affect the government’s longstanding commitment to overhaul Malaysia’s costly fuel subsidies.
“The government remains committed to its plan to restructure RON95 petrol subsidies … the government gives its guarantee that the public will not be affected,” Anwar said on Wednesday.
The announcements come as Anwar’s administration reaches the midpoint of its term, with public support wavering in the face of sweeping subsidy cuts and the introduction of new taxes on imported goods. Many Malaysians have reported growing financial hardship, intensifying pressure on the government to act.
By unveiling direct financial assistance and targeted fuel relief, Anwar is seeking to shore up confidence in his leadership and deliver immediate support to millions grappling with the rising cost of living.
