Moved by the people's efforts to ease national debt through donations to Tabung Harapan Malaysia, the Yang di-Pertuan Agong Sultan Muhammad V will be cutting his salary and emoluments by 10 percent.

"His Majesty is very touched and wishes to thank Malaysians who have been charitable and donated to the Tabung Harapan.

"His Majesty wants to be with the people in fulfilling their responsibilities.

“His Majesty has decreed and consented that his salary and emoluments be reduced by 10 percent throughout his reign as Agong until 2021," comptroller of the royal household Wan Ahmad Dahlan Abdul Aziz said in a statement today.

Wan Ahmad Dahlan said the king will also not be holding an Aidilfitri open house at the Istana Negara this year, as the funds for the event should be used for the less fortunate. 

The government launched the Tabung Harapan on May 30 for Malaysians wishing to contribute to help ease national debt and liabilities which is at RM1 trillion.

As of 3pm today, RM56.6 million has been collected under the fund.

The Agong's finances recently fell under the spotlight after veteran newsman A Kadir Jasin claimed that some RM256.9 million was spent for the upkeep and personal expenditure during the 16-months that Sultan Muhammad had held the throne.

The move to cut salary by 10 percent, follows a cabinet decision to do the same last month.