Prime Minister Datuk Seri Anwar Ibrahim said the government is doing its best to help the people cope with rising prices of essential goods.
Anwar acknowledged that problems existed, and said that he had asked Domestic Trade and Cost of Living (KPDN) acting minister Datuk Armizan Mohd Ali and deputy minister Datuk Fuziah Salleh to pay attention to the matter.
He said Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi also focused on the issue in the National Action Council on Cost of Living (NACCOL) Committee meeting.
“There is indeed a problem, I admit the problem with the (rising) prices of goods and necessities. We also saw that some countries experienced major social unrest due to restrictions on rice exports, and the increase in onion export taxes, all of which have an impact on the economy and (prices of) goods.
“However, we will try to resolve it. Whenever the Ministry of Finance has to assist, then we will do it,” he told reporters after launching Tabung Haji’s 60th anniversary celebration at Menara TH.
Asked if his weekly audience with the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah scheduled for today will touch on the Cabinet reshuffle, he said it was just a weekly audience he usually had with His Majesty.
“Perhaps, I’ll think about it later. There is no urgent need because there is only one vacancy,” said the prime minister.
Currently, the vacant position of KPDN Minister following the death of the incumbent, the late Datuk Seri Salahuddin Ayub last July, has yet to be filled.
The media previously reported the possibility of a Cabinet reshuffle in the near future, with several ministers predicted to be dropped and the alleged reshuffle will only take place after the Pelangai state by-election on October 7.
Meanwhile, the government will begin discussions on the handing back of Lembaga Tabung Haji (TH) assets which were transferred to a special purpose vehicle (SPV) owned by the Finance Ministry (MOF) in 2018, said Prime Minister Anwar Ibrahim.
Anwar, who is also the finance minister, said this consideration was made after preliminary reports showed that TH was now well managed and that there was increasing confidence among depositors amidst the efficient management of the new leadership of the national haj management institution, who had shown their integrity.
He added that the return of TH’s assets also disproves the claim by certain parties that TH’s assets placed under the SPV had already been transferred to non-Muslim ownership, which is entirely untrue.
“After careful consideration, I have stated from the beginning, since assuming this position, that once TH is managed well and is secure, MOF will initiate discussions to return the assets currently held by the SPV to TH.
“This is also to put an end to the slander against the finance minister at the time, claiming that he had already transferred these assets to non-Muslims,” said Anwar at TH’s 60th anniversary celebration here on Friday.
In December 2018, MOF via its SPV acquired RM19.9 billion worth of the pilgrim fund’s underperforming properties and equities in exchange for RM10 billion in sukuk (fixed income) and RM9.9 billion in Islamic redeemable convertible preference shares (RCPS-i).
Of the assets that were acquired, 80% were equities while the remaining 20% comprised properties. Properties with less than 2% yield and equities that have seen impairment of over 20% were acquired by the SPV at book value.
TH’s then-group managing director and chief executive officer Datuk Seri Zukri Samat said there were no cash transactions or government guarantees involved in the exercise, as the SPV will issue a seven-year non-tradable sukuk, which will be fully subscribed by TH, along with the RCPS-i, with no maturity or dividend.
