KUALA LUMPUR (July 17): The King said he is in favour of the new government’s approach of being transparent by exposing Malaysia’s financial position, reviewing project costs and managing finances prudently.

“I also support the abolishment of the goods and services tax (GST), stabilising petrol prices and providing cost of living aid to reduce the people’s burden. At the same time, I appreciate the people’s contribution regardless of race, religion and age to the Harapan Fund, which shows their concern for the nation,” said Yang di-Pertuan Agong Sultan Muhammad V in his speech when opening the 14th Parliamentary session today.

In the meantime, he said he hopes the government would find ways to overcome global economic challenges, international-level political and humanitarian conflicts, and threats of radical understandings that influence the world’s geopolitics and economy.

Sultan Muhammad also welcomed the drafting of new policies, strategies and legal frameworks to meet the challenges of Industry 4.0.

However, he noted that the benefits should not be solely economic, but also in terms of social development and other aspects.

On the mid-term review of the 11th Malaysia Plan: New Direction 2018-2020 that would be tabled this year, he urged lawmakers to give useful input to the government.

“I hope the government would continue with development programmes and projects that would benefit everyone, including those in Sabah and Sarawak,” he said.

Seeing the contribution of some 15 million workers as significant, Sultan Muhammad said initiatives such as the setup of the Equal Employment Opportunity Commission, standardising minimum wage and creating more jobs, would help the labour market.