The Malaysian Cabinet has agreed to cut the salaries of all ministers by 10 percent in a move to reduce government spending.

Malaysian Prime Minister Mahathir Mohamad made the announcement at a press conference after chairing the first weekly Cabinet meeting at Putrajaya on Wednesday, May 23.

Deputy Prime Minister Wan Azizah Wan Ismail and other Cabinet ministers were present as well.

A ballpark figure of how much the Malaysia PM makes a month, including variable allowances: About S$10,000.

Mahathir took a pay cut before as prime minister

According to The Star, Mahathir said that taking a portion off of his salary has been his own practice.

He said:

"I also did the same thing when I became prime minister in 1981."

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Decision on mega projects will be made soon

When asked about the fate of some mega projects such as the Pan Borneo Highway and Bandar Malaysia, which are going to incur large sums of money, Mahathir said that mega projects like these will be reviewed.

They might also be scrapped should they be found to not serve the interests of the nation and the Malaysian people.

Reviewing of mega projects was part of the new government's austerity move.

Mahathir was reportedly alarmed at the amount of debt Malaysia has incurred.

Mahathir added that the decision on the projects will be made soon.

In addition, he announced that "non-essential" agencies such as the Land Public Transport Commission will be dissolved.

Top image via Mahathir/Facebook