KUALA LUMPUR: The year 2023 was a challenging one for Malaysia, reeling from the economic and social impacts of the Covid-19 pandemic while managing the complexities of a new unity government.
This year looks set to be one of transition, with strategic initiatives to be implemented to revitalise the economy.
These include targeted fuel subsidies, new electricity subsidies, a new tax on low-value goods and the adoption of a progressive wage model.
While some initiatives spell joy for the people, others may prove to be a bitter but necessary pill to take to move away from a decades-long dependency on a subsidies-based system.
The New Straits Times spoke to representatives of industries and businesses, as well as the people on their expectations for 2024.
'WE WANT CHEAPER GOODS'
Reduced cost of goods was the most commonly-shared sentiment among folks.
Those interviewed related how they have had to adjust by cutting back on dining out, adhering to a strict budget and resorting to online shopping for more affordable options.
"I buy only what I need. Regarding food, I set a tight budget on how much I can spend," said Universiti Malaya student Zatul Huda Omar, 20, from Penang.
Maimun Yusof, 57, said previously, she could buy what she needed without paying much attention to the prices, but now she had to be more frugal.
"It's burdensome, especially with the high price of rice," said the batik goods seller from Cheras.
Maimun urged the authorities to act against traders who manipulate prices.
She said some businesses charged different prices than what were labelled.
"Sometimes, an item is sold at RM1.30, even though it's stated (on its packaging) that it is RM1."
The higher price of goods has made cooking at home more expensive.
"If we cook at home, it would be more economical, but the cost (of raw ingredients) has gone up," said Vivian Adelene Adram, 47, from Bangsar here.
Musa Mat Desa, 56, a nasi lemak seller here, wanted the government to better monitor the availability of subsidised goods.
"For example, subsidised polybag cooking oil. It is hard for me to find it and I have no idea why."
MORE TARGETED ASSISTANCE, FEWER ONE-OFF PAYMENTS
In 2023, the government rolled out the Sumbangan Tunai Rahmah initiative and the RM100 Madani e-credit assistance.
Economy Minister Rafizi Ramli had announced that financial aid would be given based on household net disposable income as the government moved away from the use of income categorisations: Bottom 40, Middle 40, and Top 20 (B40, M40 and T20).
Omar Qayyum Hamdan, 22, said that instead of providing a low one-off assistance to a large group, the government should focus on providing targeted assistance and focus on the needy.
The final-year law student at the International Islamic University of Malaysia cited the example of the RM200 e-Tunai Belia Ramah aid given to students last June.
"It's a nice move but it's a short-term relief. Enabling more scholarships will help students even more instead of just a temporary measure," he said.
Shanker Nadarajah, 55, said that having a targeted approach was better in the long run.
"I would prefer if the government focused on reducing the prices of goods because a one-off assistance can be used only in a short time. But if the prices of goods are reduced, everyone can benefit from it," said the Bangsar resident.
LESS POLITICKING, MORE COOPERATION
Zatul said that as a young Malaysian, she believed the situation would improve if there was less politicking, and instead, a greater sense of purpose among politicians.
"They need to set aside their differences and work together for the sake of the country," she said, who felt critical issues had been eclipsed by excessive politicking.
REFORM EDUCATION SYSTEM TO MEET INDUSTRY DEMAND, BETTER PAY
Zatul wants the government to improve the education system and ensure equal access to education.
"The government needs to prioritise and refine the system to facilitate and enable Malaysians to get a proper education. The dropout rate among underprivileged students is increasing."
Omar, meanwhile, wants job scarcity to be addressed.
"We have psychology or sociology graduates settling for jobs that are not relevant to their degrees.
"This is concerning, since we lack expertise in these industries. It is a loss for the country."
He called for an education system reform, emphasising the need for graduates to meet market demands, which will lead to improved remuneration.
BETTER PUBLIC TRANSPORT NETWORK
Arif Daniel Shazrie Annuar, 25, said that while public transport remained largely affordable, overall connectivity must be improved.
Arif Daniel, who lives in Rawang and works in the Kuala Lumpur city centre, uses e-hailing services from his house to the light rapid transit (LRT) station due to a lack of first- and last-mile connectivity.
"This leaves a gaping hole in my pocket every month," he said.
Meanwhile, an NST reader who wanted to be known only as Alex, said improving the public transport infrastructure was crucial and should be prioritised before implementing petrol subsidies.
"Petrol is something that everybody needs. There are only so many houses that are within walking distance of LRT, Mass Rapid Transit or Keretapi Tanah Melayu services.
He said if the government planned to implement the targeted fuel subsidy programme, it must first improve public transport.
He added that only by doing so would it become a viable alternate means of travelling.