Kuala Lumpur - Most Malaysians these days have two main topics of conversation in which almost everyone has a strong opinion - the rising cost of living, and opposition leader Anwar Ibrahim's promise to topple the government.

Both are related. Anwar has pledged to revive the country's ailing economy, aside from abolishing racially segregating policies in his quest to usher in "a new dawn" in politics unlike anything the country has seen before.

Less than a year ago, critics believed the 61-year-old Anwar to have faded into political oblivion after he kept a relatively low profile since his release from prison in 2004.

Anwar was fired as a deputy prime minister in 1998 by former premier Mahathir Mohamad. He was also charged and jailed for corruption and sodomy.

He was later cleared of the sodomy allegations, but not before he was beaten by police while in detention, and served six years in prison for charges of corruption. Anwar insists he was framed for both allegations.

Now 10 years later, the charismatic leader has led an unlikely three-party opposition alliance to major gains in the March 8 general elections - securing 82 out of 222 seats in parliament - and has pledged to topple the government with the defection of at least 30 government lawmakers.

The government has dismissed Anwar's threats, saying none of the government lawmakers will or have agreed to defect.

Anwar initially set a Tuesday deadline for his takeover, but has recently begun to sidestep questions on whether he can meet the date.

"The takeover is definitely still on, but September 16 is no longer possible because of some minor hiccups," said one of Anwar's senior aides who declined to be named.

One of the "hiccups" is the government's move to send 49 of its lawmakers to Taiwan earlier this month for a "study trip," which the opposition has slammed as a thinly veiled attempt to hinder any defections.

"We're still in the midst of negotiations, but rest assured, the time is drawing near for the new government to take over," said the aide.

While the drama continues to unfold in the political arena, local Malaysians have been preparing for any eventuality should Anwar succeed in his claims.

"It's all like a great, dramatic movie," said Thomas Khoo, sales director of Virtual Malaysia, the official web portal for the tourism ministry.

"And we're excited to see the outcome."

Rumours of riots and the government declaring a state of emergency prompted people to stock up on daily supplies over the weekend.

While there is still no sense of panic, several businesses in the heart of Kuala Lumpur have declared Tuesday as an "off-day," out of fears of possible unrest.

"I've stocked up on rice and some essentials, because I don't want to take the risk of something happening and I'm not prepared," said Ng Chin Sing, a stock broker.

"The government seems desperate to hold on to power, and Anwar's threats seem real enough to scare them," said Ng.

From housewives to cafe patrons, the very possibility of a change in government has brought on feelings of anxiety and excitement.

"Our cost of living has become ridiculously high," said housewife Yap Sew Lan.

"Perhaps if Anwar takes over, things will improve. They can't get much worse now," she said.

That hope stems from the fact that the ruling coalition of Prime Minister Abdullah Ahmad Badawi has been in control ever since the country gained independence from the British in 1957.

In the March elections, Anwar's opposition alliance scored a major upset by denying the ruling government its two-thirds majority in parliament, and taking over five out of 13 states.

If Anwar forms the next government and makes good on his promises, there will be major restructuring to a decades-old affirmative action programme that favours the majority ethnic Malays.

He has also pledged to make major reforms to the economy, free the judiciary and the media from government interference and guarantee religious freedom.

Political observers have said his promises of change are welcomed by most Malaysians, who have grown tired of what is perceived to be increasing corruption in the government.

"I'm not sure if Anwar really has what it takes to be the next prime minister, but it doesn't really matter - we just want the old government out," said student activist S Rina.