Prime Minister Anwar Ibrahim acknowledged that not everything the government does is popular or quick to bear fruit.

But the people will benefit from the government’s policies, he said in his pre-recorded New Year speech live-streamed on his social media.

“For example: targeted diesel subsidies and before that electricity tariffs that were done by the Madani government to block leakages that have been channelled to the richest parties, what I call the mahakaya (ultra rich), and 3.5 million foreigners who are not eligible to receive subsidies,” he said.

The government has withdrawn diesel subsidies at the pump on June 10 in a bid to rationalise expenditure and stem smuggling activities.

Following this, the price of diesel would be floated according to the market rate and updated weekly like RON97.

The move drew criticism and a month later Anwar doubled down on the decision.

In his speech today, Anwar touched on Malaysia’s role as the Asean chairperson next year.

He said the event must catalyse Malaysia into “striving for excellence”.

“This means we must find ways and methods to record excellence and strengthen unity in our country because before we step into the regional level and towards the international arena, the country must be managed well, governance improved, leakages and corruption plugged - only then can we receive respect as a sovereign, independent and responsible country,” he said.

Besides that, Anwar spoke on the flood issues plaguing the country, saying the government’s early preparations had mitigated the disaster.

He said flood mitigation projects remain a priority despite their effects and high cost. He did not elaborate on the effects he was referring to.