A comprehensive approach must be taken by the government to ensure its aim of reducing the people’s cost of living expenses with the tabling of Budget 2025, is felt by Malaysians across the board.
Federation of Malaysian Consumers Associations (Fomca) deputy president Datuk Paul Selvaraj said the rising cost of living was affecting all income groups – B40, M40, and T20.
“The rise in the cost of living is not just confined to food. The cost of healthcare, housing, and childcare, continues to go up, and affects people across all levels of society.”
“While those in the B40 group are often recipients of aid, including cash handouts and housing assistance, those in the M40 group do not get much assistance. They are often burdened by the rising cost of housing, childcare, and healthcare,” he said.
Prime Minister Datuk Seri Anwar Ibrahim today said Budget 2025 will reduce the cost of living expenses for Malaysians – a pressing concern for the public.
“Even though our sugar, flour, and cooking oil are among the cheapest, Malaysians are still feeling the strain,” Anwar said today.
Speaking at the Finance Ministry’s monthly assembly in Putrajaya, Anwar, who is also finance minister, said Budget 2025 will also tackle problems posed by cartels, monopolies, and other elements that were driving up prices.
Selvaraj said solutions offered by the government to the people must be implemented in a holistic manner.
“Our food import bill keeps going up. This means that we depend a lot on food imports. We must look at long-term solutions with respect to our food security,” he said.
“The government can also intervene, and regulate housing prices, which are not regulated, and have been increasing in the last six to seven years.
He said healthcare and housing were basic essentials, and serious intervention was required to ensure that people were not further burdened.
“Insurance companies keep increasing their premiums. Those who can no longer afford to top up their premiums are now seeking medical treatment at government healthcare facilities.
“A lot of those in the M40 group are now falling into the B40 group. Even those in the T20 group are affected as salaries are not increasing.”
Selvaraj said many were also feeling the pinch as they were not just looking into the needs of their children, but also their parents.
“There must be proper studies conducted, and we need a broader definition of what constitutes a minimum quality of life, and what makes it unaffordable for them, in order to come up with solutions that will alleviate the people’s burden,” he added.
Budget 2025 will be tabled in the Dewan Rakyat on Oct 18.
