Prime Minister Anwar Ibrahim said the additional allocation would supplement the annual grant given to the private university, Bernama reported.

“The government will ensure the poorest students at this university continue to receive guaranteed assistance. Therefore, I am adding RM1 million specifically for that purpose,” he said when speaking at the annual government grant presentation ceremony for AIMST University in Bedong, near Sungai Petani, today.

The university received an annual grant of RM25 million at the ceremony.

Also present were higher education minister Zambry Abd Kadir and MIC president SA Vigneswaran, who is also AIMST University chancellor and chairman.

The university was founded by former MIC president S Samy Vellu in 2001.

Anwar said despite global challenges, the government last week announced an allocation of RM100 for every secondary school and university student to purchase books.

Anwar, who is also finance minister, said the country’s economic growth remains resilient and strong.

He said the national unemployment rate is currently at its lowest level, while investment performance has recorded an all-time high in the country’s history.

“One of the major challenges, of course, is education — how to ensure we continue to excel.”

Anwar said education plays an important role in building a better future. As such, this sector receives the highest allocation in the annual budget, he added.