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.
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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
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NewsTranscript
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.