caption His Majesty the Yang di-Pertuan Agong XV Sultan Muhammad V at his official residence, Istana Negara on November 3, 2017 in Kuala Lumpur, Malaysia. source Yui Mok – Pool/Getty Images Malaysia’s king will take a 10% cut to his salary and emoluments to help the government pay off a $251 billion debt. The king made the decision after citizens crowdfunded more than $15 million towards the debt. Malaysia’s new government, elected last month, discovered the “staggering” debt after taking office. The former prime minister is suspected of being under investigation for financial scandals. Malaysia’s king has offered to take a pay cut as the country grapples with a surprise national debt of $251 billion. Yang di-Pertuan Agong XV Sultan Muhammad V said he will take a 10% cut to his salary and emoluments through until the end of his reign in 2021 in response to an outpouring of donations from Malaysian citizens to help pay off the country’s national debt. The Royal Palace Comptroller Wan Ahmad Dahlan Ab Aziz said on Tuesday the king was “deeply touched” by crowdfunding donations and wanted to “join the people in doing his duty.” The king receives more than 1.05 million ringgit (around… Read full this story
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