Ahead of Budget 2025, PM Anwar says eradicating cartels and monopolies top of list to alleviate cost of living woes

PUTRAJAYA, July 9 — Prime Minister Datuk Seri Anwar Ibrahim said today he still has not given up his fight against cartels and monopolies in Malaysia, and has put the matter on top of his list.

Ahead of Budget 2025, he acknowledged that the rise of cost of living in Malaysia is still present and affecting the public — and has vowed to remedy this.

“Oil, flour and sugar are relatively cheaper here like diesel and petrol as well. However we can’t deny that people are struggling with the rising cost of living,” he said during a dialogue session on Budget 2025 at the Finance Ministry here.

“We have to find methods to eradicate cartels and monopolies so the returns [of profit] can go to the people in terms of direct grants, special aids through various government schemes and in turn improve the education and health sectors as well.”

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Anwar said the upcoming third budget of his administration is set to raise the bar on public welfare, in addition to increasing the volume of foreign and domestic trades.

He said his government will also continue to improve and implement plans from last year while strengthening local businesses.

During his speech, he touched on restructuring the economy and government departments so they are more efficient and will conduct their duty with integrity.

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“In the end, we want Malaysia to be a leading economy in Asia,” he said.

Budget 2025 is scheduled to be tabled sometime in October 2024.

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