Govt launches 5-year plan with 429 measures to ease cost of living

 The National Cost of Living Action Plan 2030 sets two main priorities – increasing people's income and stabilising the prices of essential goods and services.

Prime Minister Anwar Ibrahim (centre) launching the National Cost of Living Action Plan 2030, flanked by domestic trade and cost of living minister Armizan Mohd Ali and the latter’s deputy, Fuziah Salleh. (Bernama pic)

MELAKA:

Prime Minister Anwar Ibrahim has launched the National Cost of Living Action Plan 2030 (NCLAP30) today, outlining 429 measures under 35 strategies to ease cost-of-living pressures and improve the people’s wellbeing.

Domestic trade and cost of living minister Armizan Mohd Ali said the five-year plan sets two main priorities – increasing people’s income and stabilising the prices of essential goods and services.

He said the plan would continue and improve existing initiatives, including those involving fiscal commitments, while introducing new measures to address cost-of-living issues.

The plan comprises eight strategic clusters, namely income, food, health, education, transport, housing, utilities and general matters.

It also serves as a national framework for coordinating cost-of-living initiatives across ministries and government agencies through a whole-of-nation approach.

Implementation will involve cooperation with the private sector, NGOs and the public, Armizan added.

Speaking to reporters here, he said NCLAP30 was aligned with the country’s key policy directions, including the Madani Economic Framework and the 13th Malaysia Plan.

He also said the National Cost of Living Action Council, or Naccol, has been given a broader mandate to monitor the implementation of cost-of-living measures across ministries and government agencies.

Previously, the council focussed on examining and considering new initiatives and issues related to the cost of living. Its responsibilities now also include monitoring the implementation of measures outlined in the plan.

“The aim is to ensure that all 429 cost-of-living measures are implemented as effectively as possible, in an orderly and targeted manner, without duplication, to achieve optimal outcomes,” said Armizan.

The minister said the plan was designed to remain dynamic and adaptable to domestic challenges, as well as global geopolitical and geoeconomic uncertainties.

He added that cooperation from the private sector, NGOs and the public would be crucial to ensuring that the initiatives benefitted the people. - FMT