See More on Facebook

Business, Economics

Mahathir chairs economic meeting, cost of living takes centre stage

The Economic Action Council’s main aim is to spur and stimulate sustainable economic growth.


Written by

Updated: March 21, 2019

Prime Minister Mahathir Mohamad chaired the first meeting of the  Economic Action Council (EAC), which had tackling the cost of living high on the agenda.

The meeting on Wednesday (March 20) looked at measures to improve the living standards of the B40 group.

The Economic Affairs Ministry, which acts as the secretariat to the EAC, said that three papers were presented by representatives from the ministry, as well as the Domestic Trade and Consumer Affairs Ministry.

“Aside from the cost of living, the idea of social entrepreneurship as a platform to improve the livelihood of B40 households was also brought to the meeting’s attention, as well as the implementation of decisions made by the National Action Council on Cost of Living,” said the secretariat in a statement.

The secretariat said that the government is aware of the difficulties faced by the B40 group, and would take immediate measures to stimulate the economy.

It said the government was also committed in ensuring fair wealth distribution and improving the peoples’ well-being

In February, the Prime Minister’s Office announced the setting up of the EAC and its 16-strong council members.

Apart from the Prime Minister, other members are Economic Affairs Minister Datuk Seri Azmin Ali, Finance Minister Lim Guan Eng, International Trade and Industry Minister Datuk Darell Leikeng and Works Minister Baru Bian.

Others are the Prime Minister’s economic advisor Datuk Muhammed Abdul Khalid, former international trade and industry minister Tan Sri Rafidah Aziz, Permodalan Nasional Bhd chairman Tan Sri Dr Zeti Akhtar Aziz and council of eminent persons member, economist Professor Dr Jomo Kwame Sundaram and Public Bank Bhd chief executive officer and managing director Tan Sri Tay Ah Lek.

Majlis Amanah Raya chairman Dr Hasnita Hashim, Bursa Malaysia Bhd chairmab Datuk Shireen Ann Zaharah Muhiudeen, Asean Business Advisory Council Malaysia chairman Tan Sri Mohd Munir Abdul Majid, Federation of Malaysian Consumers Association (Fomca) chief executive officer Datuk Paul Selvaraj, lawyer Bah Tony @ Amani William Hunt Abdullah and Masa Institute board of trustee membet Nizam Mahshar were also named as council members.

The Economic Action Council was formed to respond and act upon the people’s feedback about the problems they face, particularly economy.

 



Enjoyed this story? Share it.


The Star
About the Author: The Star is an English-language newspaper based in Petaling Jaya, Malaysia.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business, Economics

Report: US officials lied about Afghanistan

Civilian, military officials misled public for nearly two decades about status of war, Washington Post review of documents finds. For nearly two decades, senior US civilian and military officials didn’t tell the truth about the war in Afghanistan, The Washington Post reported on Monday after reviewing more than 2,000 pages of government documents. The officials made pronouncements they knew to be false and hid evidence that the war had become unwinnable, the newspaper said interviews with those officials show. John Sopko, the head of the federal agency that conducted the interviews, acknowledged to the Post that the documents show “the American people have constantly been lied to”. The newspaper said that two major claims in the documents are that US officials manipulated statistics to suggest to the American public that the war was being won and that successive


By China Daily
December 11, 2019

Business, Economics

7 of 10 Filipinos worried by presence of Chinese workers

China has increased its presence in the archipelago. The rising presence of Chinese workers in the country worry seven out of 10 adult Filipinos, according to the latest Social Weather Stations (SWS) survey, as the government recently launched a crackdown against Philippine offshore gaming operators (Pogos) which mostly employ Chinese nationals. The noncommissioned survey, conducted from Sept. 27 to 30, found that 31 percent “worried a great deal,” while 39 percent are “somewhat worried.” Highest in Metro Manila The proportion of those who were worried about the increasing number of Chinese workers in the country was highest in Metro Manila at 75 percent, followed by the Visayas at 71 percent, Luzon outside Metro Manila (69 percent) and Mindanao (67 percent.) About half of the respondents agree that the rising number of Chinese workers is a threat to national secur


By Philippine Daily Inquirer
December 6, 2019

Business, Economics

Pakistan to launch Digital Pakistan Vision

Imran hopes to unleash ‘potential of youth and women’ with new venture. Prime Minister Imran Khan on Thursday said that with the introduction of the ‘Digital Pakistan Vision’, the full potential of the contribution of youth and the women to the economy will be unleashed. According to a press release from the Prime Minister Office: “The Vision sets Pakistan’s digital ambition and has been designed for the government and the private sector to work towards a digitally progressive and inclusive Pakistan.” Speaking at the launch ceremony of the initiative, the prime minister regretted not having launched it at the very beginning when his government was formed. “I should have given attention to Digital Pakistan earlier. This is the most important thing for Pakistan right now, especially its youth. The whole world is moving forward digitally and we have been l


By Dawn
December 6, 2019

Business, Economics

Huawei asks US court to overturn ban

The company is suing the FCC, the latest in a series of legal tussles. The legal battle between Huawei Technologies Co and United States government intensified on Thursday. The Chinese tech heavyweight announced a legal challenge to the US Federal Communications Commission, seeking to overturn the latter’s order that bans telecom carriers from buying the company’s equipment via federal subsidies. The move is the latest push by the world’s largest telecom equipment maker to pursue fair competition and treatment amid a slate of restrictions from Washington. Analysts said the FCC ban would have very limited impact on Huawei’s financial performance, but labeling the company as a national security threat would cause far-reaching reputational harm. In a petition filed in the US Court of Appeals for the Fifth Circuit on Thursday, Huawei asked the court to declare the FCC order un


By China Daily
December 6, 2019

Business, Economics

Thailand looks to become LNG hub

Energy Minister Sontirat Songtijirawong declared at a conference. The Energy Policy Administration Committee today (December 4) acknowledged the guidelines for turning Thailand into the regional trading hub of liquefied natural gas (LNG). The guidelines came about from a study assigned by the government-appointed energy reform committee to PTT. Energy Minister Sontirat Songtijirawong said that the move was estimated to generate Bt165 billion for Thailand’s economy between 2020 and 2030. The country is expected to start full commercial trading late next year or early in 2021. Thailand has potential to become the regional hub due to its high demand of LNG and its geographical location as the centre of countries with high LNG demand, namely China, India, Japan, Cambodia, and Vietnam. Moreover, Thailand has a supportive infrastructure to serve regional LNG tradi


By The Nation (Thailand)
December 5, 2019

Business, Economics

S. Korean negotiator hopes for ‘win-win’ burden-sharing deal with US

Trump has accused Korea of not paying its fair share of defense costs. South Korea’s top negotiator in defense cost-sharing talks with the United States said Monday that he believes the two sides will be able to strike a “win-win” deal based on their common understanding of the bilateral alliance. Jeong Eun-bo, the top envoy to the Special Measures Agreement negotiations, made the comment upon arriving at Washington’s Dulles International Airport ahead of the fourth round of talks slated for Tuesday and Wednesday. The previous round of talks in Seoul last month was cut short, publicly displaying the rift between the allies over how to share the costs for the stationing of 28,500 American troops in South Korea.


By The Korea Herald
December 3, 2019