PM's reforms ease cost of living, uphold justice for Malaysians
Fadillah, who also serves as the Minister of Energy Transition and Water Transformation, stated that the reforms demonstrate how policy changes can bring relief rather than hardship.
'This is not just about numbers. It's about justice for the people, from civil servants to farmers,' he said in a statement.
The government's focus on comprehensive reforms has yielded tangible results, including a 4.4% GDP growth in Q1 2025 and an improved Global Resilience Index ranking.
Fadillah highlighted that these achievements translate into better job opportunities and social policies.
He also pointed to rural-centric initiatives like the increased paddy floor price and expanded MADANI Foster Village programme as proof of inclusive governance.
'From Sarawak to the Peninsula, every Malaysian deserves fair progress,' he added.
Energy subsidy restructuring has already benefited 85% of households with lower electricity bills, while the RON95 fuel subsidy ensures savings remain with locals.
Fadillah also welcomed the additional public holiday for Malaysia Day, calling for unity under the MADANI agenda. – Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
41 minutes ago
- The Star
Ringgit strengthens on weak US jobs report
KUALA LUMPUR: The ringgit closed stronger against the US dollar on Monday following a softer-than-expected United States (US) jobs report that significantly altered market expectations on the Federal Reserve (Fed) policy, said an analyst. At 6 pm, the local note rose to 4.2350/2385 versus the US dollar from Friday's close of 4.2750/2815. SPI Asset Management managing director Stephen Innes said that last Friday's nonfarm payrolls data showed a marked slowdown in US job creation, prompting traders to sharply increase bets on monetary easing. "Market-implied expectations for Fed rate cuts this year jumped to 64 basis points, up from 33 basis points prior to the release. The probability of a September rate cut surged above 90 per cent, while October is now fully priced for the first move," he told Bernama. Innes said the shift triggered a widespread sell-off in the US dollar and US government bonds, boosting demand for emerging market currencies including the ringgit, as sentiment pivoted towards a more dovish Fed outlook. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is likely to exhibit a positive trend as Bank Negara Malaysia is expected to maintain its current overnight policy rate (OPR) stance. "This would mean that the interest differentials between the Fed Fund Rate and the OPR would narrow in the months to come,' he said. Meanwhile, at the close, the ringgit ended lower against major currencies. It fell against the Japanese yen to 2.8652/8677 from 2.8407/8452 at the close on Friday, depreciated versus the British pound to 5.6296/6342 from 5.6208/6293, and declined against the euro to 4.8978/9018 from 4.8752/8826 previously. The ringgit was mixed against regional peers. It improved against the Singapore dollar to 3.2878/2908 from 3.2907/2960 and edged higher against the Indonesian rupiah to 258.2/258.5 from 258.8/259.4 at Friday's closing. However, it inched down versus the Thai baht to 13.0452/0616 from 13.0058/0319 and weakened against the Philippine peso to 7.38/7.39 from 7.35/7.36 previously. - Bernama
The Star
41 minutes ago
- The Star
SME Corp targets RM1 trillion GDP contribution from MSMEs by 2030
SME Corp chief executive officer Rizal Nainy KUALA LUMPUR: The contribution of micro, small and medium enterprises (MSMEs) to the country's gross domestic product (GDP) is targeted to reach RM1 trillion by 2030, provided efforts to empower the sector are doubled under the 13th Malaysia Plan (13MP). SME Corporation Malaysia (SME Corp) chief executive officer, Rizal Nainy, said that MSMEs contributed RM652.4 billion to GDP in 2024, up from RM616.6 billion in 2023. "This annual increase of approximately RM36 billion to RM40 billion could result in an additional RM200 billion over five years if we maintain the current level of effort. "But if we double our effort, the annual increase could reach RM80 billion, contributing an additional RM400 billion over five years. Combined with the existing base of RM652.4 billion, this would bring us to the RM1 trillion mark," he told Bernama after the 2024 MSME performance press conference here today. However, he acknowledged that achieving this target requires integrated implementation and a comprehensive scaling strategy, particularly in transforming businesses from micro to small, small to medium, and eventually to large-scale enterprises. "It is easy to design, but challenging to implement. Nonetheless, more transformative initiatives will be our main focus in the 13MP," he said. Rizal noted that, in addition to capacity-building programmes and grants such as SME Go Global and Bumiputera Export Promotion initiatives, SME Corp is also actively conducting business matching programmes and organising international expos, such as SME Venture ASEAN 2025. The expo, scheduled to take place from Oct 16 to 18, is expected to gather over 300 local SMEs ready to export their products to the ASEAN region and beyond. "We will showcase MSME companies in high-value manufacturing segments, such as medical devices, electrical and electronics, halal food and beverages, cosmetics, tourism, and smart agriculture," he said. He also highlighted that increasing the participation of MSMEs in public listings will be one of the key drivers in enhancing the sector's value and competitiveness in the future economic landscape. At the press conference, MSMEs were reported to be strengthening their position as a major player in the Malaysian economy, with a contribution of RM652.4 billion in 2024. According to official statistics from the Department of Statistics Malaysia, SMEs grew by 5.8 per cent in 2024, outpacing the country's overall economic growth of approximately 5.1 per cent, and non-SMEs, which recorded a growth rate of 4.7 per cent. - Bernama
New Straits Times
41 minutes ago
- New Straits Times
Profit taking pushes Bursa Malaysia down
KUALA LUMPUR: Bursa Malaysia closed lower on Monday as investors engaged in profit taking on selected heavyweights, capitalising on Friday's sharp rally to lock in short-term gains. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.37 points or 0.42 per cent to close at 1,526.98 from last Friday's close of 1,533.35. The benchmark index, which opened 3.07 points lower at 1,530.28, moved between 1,522.96 and 1,530.28 throughout the trading session. The broader market was negative, with decliners outpacing gainers 584 to 390, while 479 counters were unchanged, 1,026 untraded and 11 suspended. Turnover declined to 2.63 billion units worth RM1.94 billion from 3.16 billion units worth RM2.23 billion last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI ended lower as investors capitalised on Friday's sharp rally to secure short-term profits. He said such consolidation is typical following strong upward momentum, particularly in an environment still adjusting to evolving global macroeconomic signals. Among FBM KLCI constituents, consumer-related stocks led the gainers, rebounding from previous session losses, signalling a rotation into domestically driven sectors. "Meanwhile, utilities and banking counters came under pressure, contributing to the index's modest pullback. "We interpret this rotation as reflective of selective repositioning rather than broad-based risk aversion," he added. Sedek maintains a constructive outlook, supported by optimism over the recently unveiled 13th Malaysia Plan, which sets the stage for long-term structural reforms. He said the reduction in US trade tariffs has eased near-term geopolitical uncertainty and supported a more stable macro backdrop for Malaysian equities. "From August through to next month, we expect the market to increasingly price in the prospect of a Federal Reserve rate cut at the upcoming FOMC meeting. "Friday's softer-than-expected US non-farm payrolls report has significantly shifted investor expectations, with markets now assigning an 80 per cent probability to a 25-basis-point rate cut in September. "Equity investors appear to be pinning their hopes on the Fed to provide further policy accommodation to sustain economic momentum," he added.
