KUALA LUMPUR, Feb 5 — The federal government allocated almost RM13 billion to address the issue of the cost of living, said Deputy Economy Minister Datuk Hanifah Hajar Taib.
She said an additional RM300 million has been allocated for the implementation of the Payung Rahmah initiative.
“Among the short-term strategies to address the cost of living issue are Rahmah Cash Contribution (STR) and Basic Rahmah Contribution, with an allocation of nearly RM13 billion, Implementation of the Payung Rahmah initiative, amounting to RM300 million.
“Programmes to control the prices of goods through collaborations with various parties, with an allocation of RM700 million, and price standardisation programme in Sabah, Sarawak, and Labuan, amounting to RM40 million,” she said in the Dewan Rakyat today.
She was responding to Subang MP Wong Chen, who asked the government to state the recommendations of Department of Statistics Malaysia in combating the rising cost of living, as published in the latest cost of living Indicator report.
Hanifah Hajar said the medium and long-term strategies to address the cost of living focus on various aspects, including introducing the progressive wage policy to increase workers’ income in line with productivity growth.
“Raising the minimum wage to RM1,700, effective February 1, 2025, encouraging investment in strategic sectors to create more job opportunities; and providing loan facilities and guarantee funds for micro, small, and medium enterprises (MSMEs),” she added.
Hanifah Hajar said the government, through the National Cost of Living Action Council (Naccol) under the Ministry of Domestic Trade and Cost of Living (KPDN), continues to implement ongoing efforts to address the rising cost of living by focusing on seven key priority clusters: housing, education, transportation, utilities, healthcare, food, and income.
“KPDN will also adopt the cost of living indicator as a mechanism to improve programs such as Jualan Rahmah, making them more targeted and effective for the intended groups.
“Additionally, consumer awareness campaigns will be intensified to encourage smart purchasing based on necessity and to avoid spending on lifestyle-related costs,” she added.