Current:Home > StocksIndexbit-Malaysian leader appoints technocrat as second finance minister in Cabinet shuffle -TradeWise
Indexbit-Malaysian leader appoints technocrat as second finance minister in Cabinet shuffle
Algosensey Quantitative Think Tank Center View
Date:2025-04-07 15:07:58
KUALA LUMPUR,Indexbit Malaysia (AP) — Malaysian Prime Minister Anwar Ibrahim appointed a technocrat as second finance minister on Tuesday in a Cabinet shuffle aimed at strengthening his administration and winning public trust a year after taking power.
The shuffle was widely expected and expanded the number of portfolios with the appointment of five new ministers. Anwar said the changes were needed to meet current demands and cope with global trends, including the growing impact of artificial intelligence.
Anwar, who appointed himself as finance minister after taking office last year, revived the post of second finance minister and named the head of the country’s largest pension fund, Amir Hamzah Azizan, to the portfolio in a move that could ease criticism of the prime minister.
While he still heads the Finance Ministry, Anwar said having a professional team will ensure “we are on right track and can focus on the economy.”
Several key ministers swapped portfolios. Mohamad Hasan, deputy president of the United Malay National Organization or UMNO party, moved from defense to foreign minister. Deputy Prime Minister Fadillah Yusof shifted from commodities to a newly created energy transition and public utilities portfolio.
Dzulkefly Ahmad made a comeback as health minister, while Gobind Singh Deo, another experienced lawmaker, is the new digital minister, a new portfolio created to improve government outreach on social media. The human resources minister was replaced after a graft case involving his aides.
Anwar said the return of Dzulkefly, a popular former health minister, would help resolve deep-seated issues regarding health care. “His experience is needed. I believe he can offer greater focus in the ministry,” the prime minister said.
Anwar said a 20% pay cut for ministers would be maintained, and he would continue not taking a salary as prime minister. He said the current lineup should remain for the next four years if they perform well.
The Prime Minister’s Office said there are now 31 ministers, up from 28 previously, and the total Cabinet size has expanded from 55 to 60.
Anwar, 76, was a long-time opposition leader who clinched victory in last year’s general election. Before Anwar, Malaysia had four prime ministers since 2018.
His unity government includes former rival UMNO and several other smaller parties. While it holds a majority in Parliament, it faces a strong Islamic opposition and trust issues with ethnic Malay voters who view his government as too liberal and fear their interests may be sidelined.
Analysts say Anwar faces growing public distrust over an economic slowdown, a weak currency and worsening race relations.
veryGood! (98)
Related
- Buckingham Palace staff under investigation for 'bar brawl'
- Shaun White Deserves a Gold Medal for Helping Girlfriend Nina Dobrev Prepare for New Role
- A brief biography of 'X,' the letter that Elon Musk has plastered everywhere
- Ice-T Defends Wife Coco Austin After She Posts NSFW Pool Photo
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Bachelor Nation's Jason Tartick Shares How He and Kaitlyn Bristowe Balance Privacy in the Public Eye
- IRS chief says agency is 'deeply concerned' by higher audit rates for Black taxpayers
- European watchdog fines Meta $1.3 billion over privacy violations
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- A Fear of Gentrification Turns Clearing Lead Contamination on Atlanta’s Westside Into a ‘Two-Edged Sword’ for Residents
Ranking
- Meet first time Grammy nominee Charley Crockett
- All of You Will Love Chrissy Teigen’s Adorable Footage of Her and John Legend’s 4 Kids
- Dream Kardashian and True Thompson Prove They're Totally In Sync
- Biden’s Been in Office for More Than 500 Days. He Still Hasn’t Appointed a Top Official to Oversee Coal Mine Reclamation
- Trump issues order to ban transgender troops from serving openly in the military
- Supreme Court unanimously sides with Twitter in ISIS attack case
- CoCo Lee Reflected on Difficult Year in Final Instagram Post Before Death
- In a historic step, strippers at an LA bar unionize
Recommendation
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
Shifting Sands: Carolina’s Outer Banks Face a Precarious Future
Sarah Ferguson, Duchess of York, Shares Update After Undergoing Surgery for Breast Cancer
Dream Kardashian and True Thompson Prove They're Totally In Sync
Dick Vitale announces he is cancer free: 'Santa Claus came early'
A Tennessee company is refusing a U.S. request to recall 67 million air bag inflators
Florence Pugh's Completely Sheer Gown Will Inspire You to Free the Nipple
Texas’ Environmental Regulators Need to Get Tougher on Polluters, Group of Lawmakers Says