Malaysia Economy Minister Rafizi says ready to quit Cabinet
Rafizi’s announcement comes at a delicate time as the government is approaching a mid-year deadline to end blanket subsidies for its most popular petrol RON95
[KUALA LUMPUR] Malaysia’s Economy Minister Rafizi Ramli said he is prepared to step down from the Cabinet to focus on campaigning for the next general election that’s due in early 2028.
Rafizi also said he welcomes challengers to the deputy presidency position that he currently holds in the People’s Justice Party’s polls scheduled for May 23. Prime Minister Anwar Ibrahim and Home Affairs Minister Saifuddin Nasution Ismail urged him to stay in the Cabinet and contest for the party’s No 2 post, he said.
“I will take into account all views in making a final decision,” Rafizi said in a statement on Wednesday (May 7).
The People’s Justice Party is holding its first internal polls since Anwar, who helms the party, became prime minister in November 2022. Several leaders have urged Anwar’s daughter, Nurul Izzah Anwar, to contest to be his deputy.
Rafizi’s announcement comes at a delicate time for Malaysia. He’s one of the key officials pushing for the country to phase out petrol subsidies, and the government is approaching a mid-year deadline to end blanket subsidies for its most popular petrol RON95. Rafizi is also supervising the five-year economic blueprint known as the Malaysia Plan, the 13th edition of which is set to be launched this year.
Rafizi said that as minister, he has been confined to the administration’s consensus views and has been unable to speak more freely.
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“My concerns revolve around the current situation in which the government’s campaign is seen as too defensive and not offensive the way the party was when it was in the opposition,” he said.
Meanwhile, Malaysia is preparing to downgrade its gross domestic product forecasts for 2025 as it braces for the fallout from US tariffs. As economy minister, Rafizi oversaw the nation’s growth of 5.1 per cent last year, from 3.6 per cent in 2023.
Rafizi said he welcomed news that Nurul Izzah and Saifuddin, who is the People’s Justice Party’s secretary-general, have shown interest to vie for the deputy presidency. Rafizi said it was a “win-win” situation as he could use the polls as a platform to strengthen the party.
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Several party leaders – including Communications Minister Fahmi Fadzil and Selangor Chief Minister Amirudin Shari – have voiced their support for Nurul Izzah to take on the No 2 post. While she has yet to announce her decision, Anwar’s daughter – who is currently the party’s vice-president – said she respected such views and will make the best choice.
Rafizi said he was prepared for any outcome.
“If I’m elected, I can continue to play my role in the party leadership as the deputy president, and in the government through government channels,” he said. “If I’m not elected, I can return as a grassroots leader campaigning on the ground.” BLOOMBERG
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