Prime Minister Anwar Ibrahim urges the public to spend wisely, considering the geopolitical uncertainties in the Middle East.
Anwar also urged the public to spend wisely, considering the geopolitical uncertainties in the Middle East which he said could affect the global economy.
He said disruptions to key shipping routes such as the Strait of Hormuz or the Red Sea could impact the delivery of oil, gas and essential goods worldwide.
“Hundreds of oil and gas tankers could be affected. When these routes are disrupted, transportation costs can increase two to threefold.
“While Malaysia remains relatively stable compared with many other countries, the pressure is still felt,” he said at a domestic trade and cost of living ministry staff assembly here today.
Phase 2 of STR involves a total allocation of around RM3 billion for approximately five million recipients.
Anwar, who is also the finance minister, said while global oil prices were approaching US$100 per barrel, the government had maintained the price of subsidised RON95 petrol at about RM1.99 per litre.
“The government will continue to do its utmost to ensure that rising costs do not weigh heavily on the people,” he added.
He said the 2026 special financial aid (Bantuan Kewangan Khas) of RM500 would be paid to civil servants in Grade 15 and below on March 13, while government retirees and veterans would receive RM250.
The government will also distribute RM500 in special aid to around 70,000 individuals in religious institutions, including imams as well as Al-Quran and Fardu Ain (Kafa) teachers, on March 13. - FMT
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