Economist Barjoyai Bardai has called for more frequent monitoring of the 12MP progress while Oh Ei Sun said money recovered from corrupt practices could help to finance the additional allocation.

PETALING JAYA:

For a proposition that is meant to drive the nation’s development over the next decade, the 12th Malaysia Plan (12MP) must come with more than just a well-crafted blueprint, according to an economist.

Barjoyai Bardai of Universiti Tun Abdul Razak said continuous monitoring, as frequently as every month, is vital for its success.

“The establishment of an institution tasked with scrutinising the plan’s implementation on a monthly, quarterly, half-yearly, and annual basis is crucial,” Barjoyai told FMT Business.

“This institution, whether housed within the Prime Minister’s Department or the finance ministry (MoF), can provide not only checkpoints for progress but also a benchmark against which success can be measured,” he added.

There should not be any concern about having monthly reviews given the government’s current commitment to transparency and trustworthiness in its administration, Barjoyai said.

In fact, he said, such reviews are an essential component of this drive for openness.

By openly and regularly reporting on the progress of the 12MP, the government can demonstrate its dedication to transparency, thereby building public trust and confidence, he added.

RM415 billion a reasonable allocation

The government’s plan to raise the expenditure ceiling by RM15 billion has also been given the thumbs up.

Pacific Research Center of Malaysia principal adviser Oh Ei Sun said this is reasonable given the need to revive the country’s economy after the Covid-19 pandemic.

Oh said the additional sum can be derived from stricter anti-corruption efforts.

“The government should investigate deeper and confiscate more ill-gotten wealth,” he told FMT Business.

Moreover, he said, it would be remarkable if the urgent infrastructure needs under the 17 strategies included in the 12MP mid-term review (MTR) were carried out.

Themed “Malaysia Madani: Sustainable, Prosperous, High-Income”, the 12MP MTR introduces 17 measures covering 71 main strategies and initiatives including urban-rural disparities, existing wealth imbalances, increasing indebtedness, fiscal constraints and a gradual economic structural shift.

“If some of them could be accomplished, especially those involving urgent infrastructural needs, it would already be miraculous,” he said.

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