In an effort to narrow the salary gap between MPs and the private sector, Prime Minister Dr Mahathir Mohamad said they will lower the salaries of the private sector, specifically the government-linked companies (GLCs).

"I know the MP's salary is low compared to the private sector.

"We don't want to be too much lower than the private sector so we are reducing the salary of the private sector," he quipped during a press conference at the MACC headquarters today, garnering laughter from the crowded press room.

"Do you know some of the people who run some of the GLCs get as much as RM7 million a year?" he added.

He was responding to a reporter's question on whether there will be an increase in the salary of lawmakers, as it is significantly lower than the private sector.

Mahathir said there is no need to increase the pay for MPs even though it is lower than that of many others in the private sector.

This is because, he said, the government provides a lot of allowances for the lawmakers.

Before he stepped down as prime minister in 2003, his monthly salary was RM20,000, which he said was enough for him.

"The government gives you housing, transport and pays for the electricity. Everything is paid for.

"So much so that for 22 years, I did not spend the money because everything was paid for.

"I do not know about the MPs, but we are giving them funds to facilitate their work and run their office," he added.