New national cost-of-living action plan to be launched in Q2, says minister

KUALA LUMPUR, Feb 9 — A new National Cost-of-Living Action Plan, scheduled for launch in the second quarter of this year, is expected to ensure the government’s measures in addressing cost-of-living issues are more targeted and effective, in line with the current needs of the public.

Minister of Domestic Trade and Cost of Living Datuk Armizan Mohd Ali said his ministry is in the final stages of preparing the plan, which is outlined in the 13th Malaysia Plan (RMK13) since July last year as a comprehensive approach to strengthen planning, implementation, and monitoring of cost-of-living strategies, according to a report published by Buletin TV3 today.

“Efforts to tackle cost-of-living issues will be mobilised across ministries. Under the National Action Council for Cost of Living (NACCOL), clusters have been established to address this, including food, health, education, housing, transport, income, and utilities, each led by a respective ministry,” he said during the winding-up of the Royal Address debate for his ministry in the Dewan Rakyat today.

On the proposed removal of sugar subsidies, Armizan said temporary incentives are under review with the Ministry of Finance to finalise a new direction for the pricing structure of refined white sugar, with careful implementation to avoid sudden inflationary pressure on consumers.

“The government’s main focus is to curb food price hikes and ensure the sustainability of micro, small, and medium enterprises (MSMEs) in the food and beverage sector,” he added.