Malaysian govt allocated RM400 billion for the continuation of development and new projects –PM Anwar


KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said, the 12th Malaysia Plan (12th MP) has allocated RM400 billion on the continuation of developmental and new projects for the period of five years.

Anwar stressed that for the first two years, the real expenditure was 34 percent while in 2021 the total developmental expenditure was RM64.3 billion while in 2022 it amounted to RM71.6 billion.   

“The 12th MP will be reviewed with the MADANI Economy vision targetting empowering and activating the national economy for the period of 10 years. For that purpose, the government is committed to spending at least RM90 billion a year for 2023 until 2025.

“This means the government will spend RM400 billion under the 12th MP and increase the ceiling to RM15 billion making the whole total of RM415 billion. The increase is to add the requirements to expedite the people’s priorities besides improving the management quality and retargeting the subsidies to accommodate the basic needs of the people,” Anwar said when tabling the motion for the 12th Malaysia Plan Mid-Term Review in Dewan Rakyat today (Monday).

The Tambun Member of Parliament added the main target of the government is to make the people prosper and will continue to work for it in line with efforts to uplift the economic performance, besides being alert and aware of the people’s problems with five main basic points have been identified to narrow the gaps in the society.

He added the most urgent measure is to eradicate poverty and empower vulnerable groups by creating various job opportunities and strengthening social protection.

“Until 15th August 2023, the government has worked hard to save almost 114,000 hard-core poor families from poverty. The government is committed to ending the hard-core poor group this year regardless of ethnicity, city, village, and remote areas.

“An allocation of RM1.5 billion has been approved to activate the programs and projects that could generate the income of the target group,” Anwar said.

He also emphasized that the government will strengthen the preparation of social protection for the people via Social Protection Reformation which is being studied to improve the efficiency and effectiveness of the Social Protection System.

Meanwhile, cash aid and the Rahmah program will be continued and improved to ensure social safety networks will continue to be elevated.

“The third point is the empowerment of the Bumiputera agenda that focuses on their participation in the economy based on equity but after five decades, the equity owned by the Bumiputera has not reached the fixed target of 30 percent.

“As such the MADANI Economy via the 12th MP Mid-Term Review among others will reevaluate the approach to measure the rate of participation and monitor the Bumiputera economy to be more meaningful.

“Bumiputera  Congress will be held in January 2024 to fix the direction and the new approach for the Bumiputera agenda that is fairer, equitable, and inclusive.

The prime minister stressed that the prosperity of the rural community including the settlers and smallholders will continue to be protected via reviewing and strengthening the functions and the roles of the related agencies, especially FELDA, FELCRA, RISDA, and MARA.

“As such the government has introduced a special incentive known as Rahmah Health Contribution (SKR) worth RM300 for settlers aged 65 and above and will build 12 Hemodialysis Centres in all FELDA areas and at Yayasan FELDA premises in Kelana Jaya,” Anwar reiterated.

In his report, Anwar also highlighted that the government is determined to tap the potential and elevate the youth’s prosperity. In the second quarter of 2023, the rate of unemployment among the youths aged 15-24 is at a worrying rate that is 10.7 percent.

Following that Anwar said, the National Empowerment Plan for Youth Economy will be launched focusing on increasing the employability of youths for those unemployed and involved in non-formal work. –Malaysia World News



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