PSM defends Anwar over 'maha kaya' remark

PSM has defended Prime Minister Anwar Ibrahim over the brouhaha surrounding the latter's "maha kaya" (ultra-rich) remark.

Its deputy president S Arutchelvan said in reality, the ultra-rich are behind many problems in the world.

"The wealthy, if they desire, can eradicate poverty and resolve many issues, such as poverty, famine, hunger, unemployment, climate change and others.

"They hold politicians in their grasp to ensure their agenda are met. The income disparity between the rich and poor is too high and obscene," Arutchelvan said in a statement today, stressing that Malaysia has one of the highest income disparities in Asia.

The statement was issued in conjunction with End Poverty Day.

According to him, Anwar was in fact, "very kind" to the "maha kaya", in the sense that the recently introduced capital gains tax (CGT) would only apply to unlisted companies.

Perikatan Nasional leaders had previously slammed Anwar for "targetting" the ultra-rich with the latter's "maha kaya" remark during his Budget 2024 speech last Friday.

Anwar defended his remark in Parliament today, saying that he was neither against the “ultra-rich” group nor trying to oppress them.

Instead, the prime minister stressed the government only intended to slash subsidies for the wealthiest 10 percent in Malaysia as they do not need such sedekah (charity) to survive.

Elaborating, Arutchelvan said the richest of every country had loyalty to only one thing: profit.

"They will pay the lowest salary and cut costs in every way to become 'maha kaya'. They will run to the country with the cheapest labour and pay commission to any government to cut costs and cut red tape.

"The only way to squeeze money from the 'maha kaya' is through laws and taxation policies; even though they may employ experts to evade payments," he added.

Arutchelvan also pointed out that equitable distribution of wealth can only be worked out if the "maha kaya" can cooperate with the government, citing Anwar's call to get Padiberas Nasional Bhd (Bernas) owner, local tycoon Syed Mokhtar Al-Bukhary, to channel RM60 million of his profits to rice farmers.

"PN MPs talk as if the trickledown works. They prefer to lay their hands on hard-earned Employees Provident Fund (EPF) money rather than going after the 'maha kaya',” he said.

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