TEKS UCAPAN VERBATIM

YAB DATO’ SERI ANWAR BIN IBRAHIM

PERDANA MENTERI

SEMPENA

FORUM ILMUWAN MADANI BIL.1/2026

31 MAC 2026 (SELASA) | 8.30 MALAM

BANK NEGARA MALAYSIA

KUALA LUMPUR

Assalamualaikum Warahmatullahi Wabarakatuh dan Salam Sejahtera.

Saudara YB Senator Datuk Seri Amir Hamzah Azizan,

Menteri Kewangan II;

YBhg. Datuk Seri Abdul Rasheed Ghaffour,

Gabenor Bank Negara Malaysia;

Saudara Apurva Sanghi,

The World Bank Lead Economist for Malaysia; dan

Rakan-rakan yang saya muliakan.

1. Wajar kita mulakan dengan menyatakan syukur ke hadrat Allah Subhanahu wa’Taala dan kita dapatkan teruskan Forum Ilmuan ini yang mula diusulkan oleh Yang Berhormat Dato’ Seri Diraja Dr. Zambry Abdul Kadir, Menteri Kementerian Pengajian Tinggi. Dan ini diteruskan hampir acara bulanan, iaitu memberikan ruang supaya kita adakan wacana yang bebas dan segar membahaskan isu-isu yang kita anggap mendesak dan harus diberikan perhatian.

• Kemudian, dianjurkan supaya perbahasan lebih terbuka, mendengar pandangan daripada Kerajaan, daripada pandangan akademik, dan juga dari pandangan profesional. Jadi, kita sudah teruskan dengan puluhan sesi dengan pelbagai tajuk, jadi pada malam ini kita teruskan dan kali ini dihos oleh Bank Negara sebab itu, suasananya itu lebih tinggi sikitlah, sesuai dengan kedudukan Bank Negara walaupun ekonomi sudah nampak sedikit gawat.

• Saya nak mulakan sedikit menyinggung tentang perkembangan mutakhir ini, dan sebagaimana kita tahu hari-hari kita adakan Mesyuarat Majlis Tindakan Ekonomi Negara, besok Kabinet, lusa saya panggil semua, Menteri-Menteri Besar, Ketua Menteri dan Premier untuk membahaskan atau mendengar taklimat. Untuk membahaskan isu yang saya anggap mencabar.

• It always observed for example, in the last year, the performance is quite impressive. I mean there’s clear economic resilience, impressive figures in terms of growth, in terms of sustainability, in terms of containing inflation, and being attractive to foreign investments. And in the region, we able to sustain this sort of position due to of course the support of all, I mean Central Bank of course is quite fundamental in this regard, and the Treasury, the Economic Planning, and all the colleagues.

• There’s political stability, there’s clarity in policies and we therefore we chart a program that can propel the hook can propel the economy. In the last month or so, we are now entering somewhat uncharted territory. New challenges. We can’t say it is not anticipated expected because the region, particularly in the Middle East has been volatile and it is regrettable that we have forces that not only wish to contain this, but then allow this to flare up by the initial Israel and United States aggression in Iran. And the response by Iran and its ramifications around the region has caused further contagion, and now it is more complex.

• We are fortunately in the position that we have excellent relations with our neighbors so we communicate very regularly, and even with the Middle East. Not many countries can communicate directly with all the leaders of the Gulf States and with the President of Iran, and we did and they take us as trusted friends, and we do express first. Malaysia happens to be one of the few countries that made their position very clear consistent in our foreign policy against any aggression against any country and I was extremely delighted when the Parliament, my partisan endorsed that resolution.

• Having said that, that’s not the end because the Gulf States took resented the idea of the attacks or the counter attacks and ballistic missiles etc from Iran has exacerbated in the sense that is probably affecting the stability and security of the neighboring countries. Each have a strong argument I mean they have expressed to me their position but of course we made our stand clear and continue to engage and we are very fortunate therefore that Malaysia is one of the few countries that the Iranian President gives clear specific instruction to get the seven ships cross Hormuz Straits and they are on the way back.

• But that’s not the end we issue the implications and ramifications to the region. We have seen our neighboring countries grappling with the new aspect of development. We are in communication, I travel down for a few hours to Jakarta to visit and discuss my friend President Prabowo and we all share his notes to see how we can mitigate, but certainly there must be preparedness to accept the stark realities. We have demonstrated resilience and nobody can question that, and it was in the right trajectory but now we have to convince our people Malaysians in particular, to accept that we are in the crisis mode.

• We would of course be able to garner. What we have done in the last few weeks make sure first get the facts forces from the government, from the academia, from the private sector, and then even some and therefore we start with something very dear to my heart, the issue of ‘harga minyak turun’ had to deal with it and I think you know, sometimes when it comes to plain economic policies it must be guided by facts and the clarity that’s required and therefore we made that initial notice, because that to me is important that means we do acknowledge there’s a problem and therefore if we do acknowledge the problem, then we have to then alert the people and so that was why we decided on the RON95.

1. But still after discussing with Petronas and the other oil companies, then we realize for now for the next one month or so we can still contain. The people should be the last to be burdened with these issues. We should deal with it first. But then, we have this therefore series of sessions in the economic team we have decided therefore to move on extending measures is critical to safeguard the interest in the medium and long term. How long does it take? We don’t know, but from my limited understanding I would say this, that even if it is resolved, as in my communication with the Amir Qatar tomorrow, it will take months before the gas line could be just operationalized.

1. So it is better that we take a more I should say, cautious reason approach to safeguard the interest of the economy, which means the welfare of the general people. My worry is of course in him free, in a free country, democratic country it’s very difficult to get everybody on board, but I now would appeal to you and I would continue to appeal the Malaysians that you put politics aside, let us now focus on measures, bring everyone on board to try and help ease economic issues and introduce policies that would really garner our support and understanding of all, but we need clearly the support of everyone.

1. You see in the social media still some very, very nasty comments coming up, which is to me unfortunate I mean, it’s not the time where we can play politics the whole country, the whole security of the country and the economic security is at stake. It is not the time when you talk about who wins what particular seat or not.

1. So, I think this is probably appropriate time for me to continue to remind friends that there are times where the focus should be purely to get everyone on board and  again to focus on the economic policies, and therefore, this session tonight is timely I mean, I thank again the Governor, although didn’t join, did you invite them for dinner? All right. Thank you. Thank you. Yeah, somehow, I wasn’t invited, but they did. No, no, I’m sorry I had something on.

1. So, sekali lagi saya ucap terima kasih dan kita mulakan. The session ini selalunya, saya sebenarnya saya moderate sahaja, tapi pasal malam ni saya ingat ada hal-hal yang sangat mendesak dalam negara kita dan saya rasa saya bertanggungjawab bersama kawan-kawan untuk memberikan garis panduan tentang hala tuju kita dan bagaimana seluruh kekuatan, Jemaah Menterinya, pimpinannya, penjawat awamnya, gerakan.

1. Tadi beberapa keputusan yang KSN putuskan untuk bekerja dari rumah dan sebagainya, itu bukanlah penyelesaian semua. Ikut kajian tenaga dalam kes Covid dulu kerja di rumah itu mungkin mengurangkan sedikit penggunaan minyak tapi menambah penggunaan elektrik. Jadi, sebab itu kena fikir langkah-langkah yang secara lebih meticulous, lebih teliti mencerahkan tiap aspek dan tidak boleh hanya diharapkan penggunaan awal untuk menyelesaikan semua-semua masalah.

1. Jadi, kita ada tiga (3) tokoh malam ini pembentangan pertama, reforming activating and accelerating strengthening Malaysia’s economy amid global uncertainty. The topic itself is confusing, that’s why we had Amir Hamzah to start. Thank you.

Ulasan YAB Perdana Menteri selepas Presentation MK2:

Terima kasih. Its capsulate the key fundamental issue that we have to address, we talk about ‘the Gale of Creative Destruction’. Very positive. Schumpeter’s classical theory, economic theory. I don’t know if you should agree or not, but Gale Of Creative Destruction, we have issues, but there are then build opportunities other than.

And I think if you look at the presentation, you understand that the framework National MADANI economic policies, which is unbridled capitalism, not to proceed with pure session growth without consideration the welfare of the general people. That is why we push the general minimum salary. Extremely tough menu, because they’ve been talking for the last few years. They’re not able to push to RM1700, and insist that GLCs and GLICs provide a basic salary of RM3100. Which is not too difficult, at least, because the corporate professionals are more, I should say, like Rashid Hussain, are more, less capitalist now. So, they’re more understanding. A bit left or centre now.

Yeah. I think he encapsulated the issues with such clarity. Thank you very much. Great help to me in the Treasury. He does most of the work, I do most of the pronouncements.

Now we come to Datuk Seri Abdul Rasheed Ghaffour, Gabenor Bank Negara Malaysia, on Malaysia’s Economic Resiliency Amid Global Uncertainty and The Rule of Structural Reforms.

Ulasan YAB Perdana Menteri selepas Presentation Gabenor Bank Negara:

Terima kasih, Datuk Rasheed, of course we have to commend his shift to Central Bank, give his necessary confident, stability, and help and build up that investment confidence. Although, sometimes, makes the work of the Treasury tough. They don’t necessarily see eye to eye. So, normally, we have to navigate that sort of attention. It was not as bad as before. Before, when you had this Treasury, EPU, Central Bank, they all give. They hardly engage with one another, and therefore they can give different projections.

Now, I say, you can have your different projections, but please engage. And I think I must express my profound gratitude to Rasheed and his team for such an impressive work that helps you see this economic stability, and then the resilience and the confidence. It reflects the strength of our institutions and the confidence. So, terima kasih sekali lagi.

Now, of course, Apurva quite well known here, from the World Bank. World Bank used to be very extremely unpopular those days, at my expense, because I used to be chairman of the Development Committee of the World Bank. So, the rest is history.

But now, as you said, that people are more open, and even the World Bank overtures and adjustments, and take into consideration some of the concerns, the nation’s concerns, particularly in the issue of social mobility, concerns of the poor.

I’m not suggesting that it was never considered, but I think you certainly agree with me that even the bank, somehow or somewhat, shifted from pure growth obsession or trajectory for development per se to societal development and concern for the basic welfare of the general message. So, back to you, “From Jobs to Good Jobs. Thank you.

Ulasan YAB Perdana Menteri selepas Presentation Saudara Apurva Sanghi, The World Bank Lead Economist for Malaysia.

I think you’ve given me some material for me to deal with my cabinet tomorrow morning. Thank you very much because we sometimes infected with this issue of the culture of complacency and contentment. Of course, we have achieved from the Governor, these are great achievements, no denial, but notwithstanding that there are issues that we have to address.

When we talk the reform, essentially this we have to take all measures necessary to try and improve striving for excellence is in the connotation of the hadith Itqan Fil Amal, I mean if you are easily satisfied or contented, then there wouldn’t be that drive. Of course there have been some measures taken but I agree with the manner that we set up our governance structure, ministries, departments make it really challenging to try and for example penetrate that sort of barricades through departments and ministries. But, that is what we try and deal with this through cabinet committees, etc but you know as a state packages law you have a problem you set up committee. If the problem continues unabated, then we have coordinating committees and then you go back to the Prime Minister, you set up a super coordinating committee. By the time that matter is not resolved, then you have to then have a new government. Who will then repeat the whole exercise all over again.

So, I take your suggestions and criticisms, and I think to be fair to assure the audience these sessions are taken very seriously, I’ve taken notes and Zambry will be my witness because his ministry will supposed to be one of the issues that we addressed. So, we will deal with it tomorrow morning. Tomorrow morning Cabinet Meeting and you know World Bank is here to help us, not to create problems for us.

Okay, kita buka untuk soal jawab atau pandangan atau teguran atau kritikan, not confined to just questions, but you can raise issues or criticisms and normally don’t criticize the Prime Minister you have the minister here and the Governor and the World bank, you have most issues, you attack the World Bank. There has been the tradition in the past. Yes, please.

Q&A

SOALAN 1 :

Good evening, my name is Warren, I am speaking on behalf of a startup group that some of the members here in the August community are also part of Dr. Apurva as an example right. So, I represent a group called unicroach and also represent consortium AI Negara. So, allow me to quote some anecdotes now from some of the SME owners.  They are all very supportive of reforms in terms of economic policies, but it has imposed bureaucratic and administrative costs to micro SMEs and SMEs. This range from those that are just about to make a few RM100 thousand ringgit building companies in the new economy space as well as those making 10 million, 20 million or so. So if I were to just read the anecdotal examples e-Invoicing is necessary but has increased the admin costs stamp duty for employment contracts is a complete waste of time because it was never broken but it led to some bureaucratic processes. 8% SST on commercial rentals has also added costs that were never there before for a lot of SMEs. 10% capital gains on investing in private companies, which we are trying to encourage more GLICs, more GLCs, more angels to invest into these startup companies has also resulted in the need to tax plan before investing.

So, the risk capital is getting affected because of the capital gains and then because the gentleman is from a media company, he said doubling of licensing fees from MCMC for media companies and license fees which have to be paid five to ten years in advance. So, I mean it’s anecdotal, of course different people might have different views, but my point over here for MOF and for World Bank and for Bank Negara is to take note that yes, a lot of economic policies are very good, but it has also imposed administrative costs to micro SMEs as well as SMEs.

These are just some anecdotal points that I to share from the group. Thank you.

JAWAPAN YAB PM SOALAN 1:

Thank you. So, the moral of the story is make business, no tax. I take your point that taxation is necessary, otherwise we can but then for the startups to be some concession or some degree, I think that’s the point you want to drive? I think we are relooking at the whole issue of e-Invoicing if any delay is MK2’s fault, right? (Joking).

JAWAPAN YAB PM SOALAN 2:

I think, in all humility, once we do acknowledge the need for reform, some of our critics have said we’ve gone too far. Some have said we have done virtually nothing. When you look at fiscal policy, we look at the Parliamentary reforms, look at some new major, including a minimum salary. These are major, and it takes months to convince not only the political elite but mostly even the private sector.

I mean, you know for a fact that it’s a popular move to increase the salary, but you know it’s a horrendous exercise to get and convince the business community, who would come and tell us that it will be a disaster for the economy if you do that. But how do you then grapple with the issue of the hardship of the common person when you don’t even increase the level of salary?

But I would humbly concede that more needs to be done. We’ll continue to do that. And you see, if you look at the issue of institutional reform, where major, I mean major, not only that, even institutions, look at Tabung Haji, one prime example, you see where we give, for the first time in recent history, full authority to do it in a very transparent, professional manner and decide on their own.

Look at the manner Bank Negara is being managed. Of course, they keep the finance minister primacy informed, but policy matters, what they believed to be the necessary measures, we have given them all the support necessary.

So, I think more need to be done. That’s why I said about the need to change. I mean, the other central issue that I learned in sociology is the issue of propensity to change and resistance to change. One sometimes assumes that the rural farmers, the least, for example, group that would call or support changes. There’s considered to be generally, a crowd, there is resistance to change, ultra conservative. But mind you, the elites can be, you touch on sample on the issues of the manner the business of being conducted, the rampant corruption, the abuse of power, the manner that they try and influence contracts. The elites are the worst of the Lord, because they actually constitute a group, very influential, very, you touch the big tycoons, the Tuns and Tan Sri. In terms of corruption, the elites will come and arms against us.

So, we have to acknowledge the fact, the stark reality that we have to face. Yes, we have to embark on the form, but this government is a coalition government, and we need to navigate because stability is paramount. We are able to achieve general, what the Governor has said earlier, what we have achieved. I think, without exaggeration, the fundamental points, of course, the issue stability, political stability. And because the stability, then we have clarity of policies, and we’re able to embark on some very progressive policies in terms of poverty alleviation, in terms of which, which I think this close to my heart. I mean, it’s something I have strong passion for, and we’ve been driving this hard enough.

But I conceive again, in all humility, I must say that, given have a chance, we need to do more because whilst we can pride on in the fact that we have achieved some measures of success, but there’s really a room for improvement in the issue of quality of education, in terms of transparency, in terms of we are doing business in a more efficient manner, in terms of reading the country of excesses and corruption. All these things need to be done. And I thank you for the encouragement.

SOALAN 4 :

Assalamualaikum warahmatullahi wabarakatuh. Yang Amat Berhormat Prime Minister, mine is more, less of a question, more of a suggestion if there is, I concur with what you said earlier that we are in a crisis and we have to accept the fact that we are in a crisis. And one of the fundamental facts in a crisis is communication. So we at ADFIM I am the Secretary General of the Association of Development Finance Institutions Malaysia, we ADFIM, through our member institutions. We are collecting all the assistance capital that is available for SMEs under one website, so that the information flow is easily accessible to the SMEs and the micro enterprises.

So, they come to one website, they’ll be able to see all the financing and capacity building there is under our member institutions. So, one of the things that perhaps the government can look into is the ease of communications, all this information because our member institutions are supervised essentially by various ministries. MARA, under the Rural Ministry we have BSN and BPMB, which report to the Ministry of Finance and under our platform they all come together and the corporate communications are leads sit down and we look at all the available assistance that there are for SMEs, corporates at different levels, we try to collect them and we’re working on putting them on a website.

So, this would essentially be helpful in managing the crisis especially for SMEs and micros. So that’s just a little bit of what, what I could suggest. Thank you,

JAWAPAN YAB PM SOALAN 4:

Thank you I share with you that the central challenge for us of course effective communications. Take the issue of price, petroleum price and diesel, we see the lowest and yet in the social media the talk has been that the government has increased the price of petrol and diesel. Even when it comes to, you know, you know in one, one of the social media postings that showed a blatant lie about the price of diesel in other countries and this was accepted I think the first few days people just furious because they thought they took it as a fact, as the truth and then we realized that certainly it is fake news and then popularized by some elements in this country.

So you’re right, we have to deal with this issue of fast response and we have decided this morning for example in the MTEN, to put TPM Fadilah in charge to make sure there’s one coordinated person and with a clear policy alliance after getting the facts from various agencies, ministries. I take your point. Yes.

JAWAPAN YAB PM SOALAN 6:

I think I will be suggesting to look at this a Gale of Creative Destruction. But we have also to alert the Malaysians that we are in a crisis mode. There’s no denial. You talk about just opportunities. You will delude ourselves and probably will not help in getting people just to understand and appreciate that we have the problems. And of course, we are more fortunate. We don’t encounter problems as acute as many of our neighbouring countries.

But does not mean that we are, you know, we can escape this sort of, or deflect from the pressures. And I foresee, based on the reports that we get, not only from petroleum and gas and other like fertilizers, we import huge amounts  requirements for our agricultural needs, and therefore we will have to manage with these issues.

It is better to get the people to give them the facts and tell them. And of course, some of them can appreciate, some will not. Because of those, there will be some who will remain very cynical and opposed our policies. But at least we should be frank and transparent enough in our information flow so that they can understand.

That’s what my view is, that the macroeconomic exposure is necessary because otherwise it’s not only the general public, even in governments. This morning, I was lamenting the fact that the first thing the ministries, I’m not saying ministers, but ministries from Secretary General would do is ask for more funds. I mean, you are completely, you know, misplaced. I mean, here is the time when you have to subsidize more than 4 and a half billion ringgit per month on just petroleum alone. And then you come, Secretary Generals come with their plan. You want to deal with this issue of economic challenges, we need more funds. From where to get the funds?

So, this necessary exposure on the economic fundamentals, economic challenges are, to me, a necessity. And this mass education on what constitute economic planning and macroeconomic understanding, and I think this, to my mind, is the central issue. Then we should chart ways. But it shouldn’t be all negative because, again, there are opportunities. I mean, tourism is one, and domestic resilience is another.

And there are many areas that we can try and make some adjustments. The whole idea of buying and relying purely on imported products when we have alternatives here, these are issues that we need to make the adjustments. And I think we can. It’s not going to solve all our problems, but the problem is more acute than that. We are essentially a trading nation. This needs to be understood also. We trade, and therefore the focus on some of these industries require to import, and there will be the effect of imported inflation in a big way.

Hopefully, we pray to Allah SWT that this problem in the Middle East will not continue for far too long. But that’s beyond us. So, the resilience is necessary, the understanding, the spirit of unity. And this is why you need this national fervour of the spirit of togetherness to try and resolve this together.

And I believe that this obsession is important. And we get Governor Central Bank to go down to some of these districts to explain in simple terms. And he sometimes does it better than me because, especially in Bahasa, they always criticize me. Can’t you use perbezaan pendapatan instead of kesenjangan or can you say ekonomi yang kukuh instead of kemampanan, kalau macam itu tak payah ada universiti kalau macam itu.

So, sekali lagi saya ucap terima kasih kepada semua yang hadir dia satu sesi yang bermanfaat dan kita jumpa lagi dalam Forum Ilmuwan untuk bulan berikutnya, baik terima kasih.

Wasalamualaikum warahmatuhallahi wabarakatuh.