Minister of Economy Rafizi Ramli is back and responded to a question from #TanyaRafizi regarding how the government can address rising prices after implementing a progressive wage policy. He says in his view, “We need to consider the overall cost of living issue, which goes beyond merely controlling prices.” The government’s focus should be on increasing household income through the progressive wage policy and specific programs.
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Rafizi is back
He says we shouldn’t rely on outdated methods, as Malaysia already has the most price controls in Southeast Asia. The government has spent a substantial amount to control prices, and each controlled item requires taxpayers’ money to be paid to suppliers.
“If we continue this approach and simultaneously raise people’s incomes, we can create a more balanced market mechanism that reduces economic imbalances and eventually leads to price stability,” he basically says. He did not say a word about his heart attack episode though.
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