KUALA LUMPUR: The government's measures for structural reforms have proven to be effective, as seen through the strengthening of the ringgit, the increase in investments, and the positive trajectory of economic growth, said Datuk Seri Anwar Ibrahim.
The prime minister said the Madani government had summoned "firm political courage" to rationalise subsidies and achieve these successes at the risk of being unpopular, a move he said the previous governments had failed to do.
"In this regard, rather than playing to the gallery of populist demand, responsible governance warrants that we must sometimes take the bull by the horns. This is exactly what the government did last May when we decided to implement the diesel subsidy rationalisation plan.
"Rather than taking the safe course of merely paying lip service while being frozen in action, as previous governments had done, we had to summon firm political courage to take this course of action at the risk of being unpopular."
He said if the current government had chosen to play safe and do nothing despite knowing that the continued situation would take Malaysia on the road to bankruptcy, it would then be a dereliction of the moral duty of good and responsible governance.
Anwar reiterated that the decision to rationalise subsidies was not to inflict pain and suffering on the people.
"But did we take this action, including implementing electricity tariff adjustments, and floating prices of certain essentials to inflict pain and suffering on the rakyat? Certainly not.
"On the contrary, while the majority of the people would continue to enjoy the subsidies they deserve to have, the wealthy and the big industries must pay what they ought to," he said in his speech at the Khazanah Megatrends Forum 2024, today.
Anwar, who is also finance minister, said the billions of ringgit saved from subsidy rationalisation were now being channelled back to the people in terms of other subsidies and cash transfers.
The government, he added, was committed to governance, accountability and social justice, which was to ensure that the benefits of growth were fairly and equitably distributed.
He also said those tasked with implementing government policies must therefore adhere to the highest standards of responsibility, transparency, and accountability.
"We will not compromise on our firm, decisive and proactive actions and campaigns against corruption and abuse of power.
"Structural reforms must also mean the courage of conviction and the fortitude of commitment to take action against crooks, unscrupulous profiteers, and nefarious power abusers without fear or favour," said Anwar.
He said countries globally were facing a convergence of pressures, including the climate crisis, the rising tide of geopolitical tensions, impacts of macroeconomic headwinds and a network of complexity and uncertainty that demanded coordination of the highest order.
He added that Malaysia stood at a critical crossroads, whether to leap forward or be left vulnerable to "destructive" processes.
"The answer is crystal clear: Our development pathway must be forward-looking, and our solutions must serve the wellbeing of the rakyat, addressing inequality, and cultivating a mindset of shared responsibility and innovation."
Anwar assured that the government would not rest on its laurels, be complacent, or let their guard down in the face of regional and global challenges.
He reiterated his commitment to ensuring that Malaysia thrived in the global environment, and determined to create a pathway to raise incomes, eradicate poverty, and a just, sustainable and inclusive growth.
"We will continue to embrace a spirit of openness, a readiness to adapt, innovate, and constantly push the boundaries of what is possible.
"Our response must be holistic, coordinated, and, above all, focused on the long-term wellbeing of the nation."