The Malaysian Insider understands that security agencies have been conducting briefings about the alleged plot which critics say reeks of desperation to turn attention away from the government's financial mismanagement and broken election promises.
Pakatan Rakyat (PR) leaders and political analysts agree that Malaysians have the right to voice their outrage over rising costs and subsidy cuts, adding moves by the Umno-run media, such as Utusan Malaysia, to paint it as a revolt will sow hatred in the country.
"So it is a normal reaction from people on the ground to gather to voice their unhappiness and it should not be viewed as an attempt to topple the government," he added.
Putrajaya, he said, needs to engage and address the people's concerns by having proper dialogues to explain clearly the need to cut subsidies and raise prices of services.
The government has agreed to a slew of price hikes since September, with the cut in fuel and sugar subsidies, the raising of the electricity tariff (effective January), and a possible toll rate hike in 2014.
It has also rolled out the Goods and Services Tax (GST) pegged at 6% to replace the sales and services tax and this will come into effect in April 2015.
"This is not only an attempt to sidetrack from the real issues but to sow seeds of hatred against the Opposition," he said.
Rafizi said he was not surprised over such accusations as similar tactic were adopted by both Utusan and news channel TV3 during Pakatan's People's Uprising Rally in Stadium Merdeka early this year where the pro-Umno media allegedly linked opposition leader Datuk Seri Anwar Ibrahim to lesbians, bisexuals, gays and transexuals (LBGT).
However, the Pandan MP did not think that people were gullible enough to swallow the claims as price hikes were an issue that resonated with them.
The police arrested Gerakan Turun Kos Sara Hidup chairman Azan Safar this week after a Facebook user apparently posted a comment, hinting that there would be a riot on New Year's Eve.
The police lodged a report last Wednesday about possible attempts to overthrow the government, following the distribution of banners and posters on social media urging people to attend a gathering on December 31 called "Himpunan Guling Kerajaan" (Rally to topple the government).
The posters, however, did not identify the organisers.
Umno mouthpiece, Utusan Malaysia, had run a series of articles against the alleged Himpunan Guling Kerajaan.
In describing the articles as "extremely despicable" and "irresponsible", PAS central committee member and research bureau head Dr Dzulkefly Ahmad said there was no doubt that it was a deliberate attempt by the media owned by Umno and Barisan Nasional (BN) to confuse the people on the price hike gathering.
"The issue of rising cost of living is an issue involving the people and even BN MPs and Umno friendly NGOs are raising their concerns.
"To invoke it as an effort to overthrow a democratically elected government is a no-go for us and clearly a gross misrepresentation," he said.
DAP national organising secretary Anthony Loke said it was a "cook-up story" that was ridiculous and unbelievable.
"No one will seriously believe such claims," he said, pointing out that it was a campaign by concerned Malaysians to vent their frustrations on price hikes and has nothing to do with overthrowing the government.
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