Cost of living index to include more categories, says PM Anwar

The Star

The Cost of Living Index, which the government is developing, will include more categories and basket of items, says Prime Minister Datuk Seri Anwar Ibrahim.  These include food and non-alcoholic beverages, clothing and shoes; housing,water, electricity, gas and fuel; home maintenance; healthcare; transport; information and communication; and education, among others.   Read more at https://tinyurl.com/mnw4nwf6   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Before I ask this question, I would like to ask, if you wear this in the parliament, Mr. Speaker,

00:04can batik be worn on this day?

00:05It's okay, go ahead with the question first, then I'll comment on it.

00:07Because I saw the KDN minister wearing batik today.

00:09Yes, yes.

00:10I'm sorry, minister.

00:12Questions, questions.

00:13Okay. Thank you, Mr. Speaker.

00:17Oil prices rose by 20 cents, eggs fell by 3 cents.

00:22Question number 3 needs clarification.

00:24Mr. Speaker, I would like to ask the Prime Minister to state the latest development of new indicators

00:30to measure the standard of living of the people

00:32up to the level of the region, which will be implemented in March 2024.

00:37What are the programs that have been implemented by the government

00:40based on the achievements of the latest indicators?

00:44Thank you, Mr. Speaker.

00:45Yes, please, Mr. Minister.

00:46Thank you.

00:48Before I say anything else, I would like to remind the minister to follow the rules of the parliament.

00:53I agree with what he said.

00:58Secondly, about the cost of living, the Minister of Economy and Finance gave an explanation yesterday.

01:05So, I would like to add that the index of consumer prices is not perfect, or CPI.

01:11The state has studied it.

01:13The ILO has presented its view.

01:16As for the question,

01:19first, the current situation requires changes.

01:24There is a need in Kuala Lumpur that is not the same as the need in Ulu Tengganu.

01:29Therefore, the index must be adjusted.

01:32And this is being done based on the decision of the meeting we held last March,

01:41which establishes the principle of cost of living along with the development of time.

01:47This means that the poverty line income must also be modified.

01:51PLI is part of the cost of living, especially for the poorest categories.

02:00However, as set out by the ILO in 2021,

02:06there must be an adjustment or modification of the poverty line income.

02:12Because according to the category of PLI India,

02:17we have all passed, but our index is much higher.

02:22This is because we take into account, for example,

02:25about the intake of nutrients, Malaysian diet,

02:30all of which are modified, including non-alcoholic beverages,

02:37shoes, home appliances, water, electricity, gas,

02:40decoration, health, transportation,

02:43recreational knowledge, educational services,

02:47which are generally not included in the cost of living in most countries

02:53because they only take a limited number of baskets.

03:00Our indicator includes 13 countries, 3 by the ILO,

03:05162 control areas.

03:08And this includes the tendency to use marginal capacity to consume,

03:19and also PPP, Purchasing Power Parity.

03:25Therefore, when we look at this matter,

03:31we admit that there is a problem due to the increase in the price of goods,

03:39even before the subsidy adjustment.

03:42There is indeed an increase.

03:45And the way to solve this is to increase the amount of subsidies

03:51to the people who are burdened and affected.

03:56So, while being a little offended about diesel,

03:59I say this.

04:00Yes, it is true that there is a problem in this implementation,

04:03but let's not forget that there is a lot of scarcity,

04:07there is a lot of theft.

04:09We see this at the current borders.

04:13So, let's not avoid admitting that there is a scarcity problem

04:21and that the benefits are obtained by foreigners who consume too much diesel,

04:26and also what is called leakage, including diesel for foreigners.

04:34Therefore, when we have an effective fasting action,

04:37the result is obtained, and when the result is obtained,

04:41it is returned back to the people.

04:44Thank you.

04:50Thank you.

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