Loke: Road Accidents Costs Malaysia RM25 Billion In Economic Losses

Road accidents have costs Malaysia up to RM25 billion in lost economic value, revealed Transport Minister Antholy Loke recently.

Minister o Transport Anthony Loke Siew Fook recently revealed that road accidents costs the country at least RM25 billion in lost economic value, with said figure recorded last year (2023) and marking an eight-year peak.

The figure also represents more than a 35% increase in annual economic losses due to road accidents compared to the RM18 billion figure recorded back in 2010. “The total losses experienced by the country are calculated based on the number of deaths and serious injuries caused by road accidents,” clarified Loke further.

Notably, the rise in losses reportedly aligns with an exceptionally high number of road accidents recoded in 2023, which totalled at 598,635. This also marked almost a 10% increase from 2022’s recorded figure of 545,585 reports, as well as exceeding the previous eight-year peak of 567,516 reports charted in 2019.

Transport Minister Anthony Loke Siew Fook.

Considering which, Loke reportedly said that both the Ministry of Transport (MOT) and the Works Ministry (JKR) are exploring the possibility of codifying the present 30 KM/H speed limit guidelines near schools into a new compulsory law for all. Presently, said ruling is commonly applied by local authorities.

Additionally, Loke also noted that Automatic Safety Awareness System (Awas) cameras have been placed on the Northbound side of the dreaded Menora Tunnel on the Nort-Sout Expressway (NSE) as of June 12. The minster adds that Awas cameras on said tunnel stretch’s Southbound side have begun operating since July 1.

We are also continuing to work alongside the Housing and Local Government Ministry to push for more transit oriented development, which aims to reduce Malaysians' dependence on owning personal vehicles to meet their mobility needs,” added Loke further.

Source: The Star