Azmin: New economic direction to follow mid-term review

Azmin: New economic direction to follow mid-term review

The economic affairs minister says authorities are monitoring the situation to ensure that the cost of living remains low.

Free Malaysia Today
Economic Affairs Minister Mohamed Azmin Ali says new targets for the economy will be set based on Pakatan Harapan’s promises. (Bernama pic)
KUALA LUMPUR:
Economic Affairs Minister Mohamed Azmin Ali says the mid-term review on the state of the economy, scheduled to be tabled in September, will lead to a new economic direction for the country in line with Pakatan Harapan’s (PH) manifesto.

He said the review was being carried out by the ministry and the Economic Planning Unit (EPU) of the Prime Minister’s Department.

“This time, the mid-term review is rather different as we will not only review the achievements under the 11th Malaysia Plan over the last two years, but also set new targets based on PH’s promises,” he told reporters at a breaking of fast event with the Gombak community here yesterday.

When questioned on his first week as a federal minister, the Selangor menteri besar said he had spent his time attending briefings and obtaining feedback from the EPU on plans for the country’s socio-economic development.

On the possibility of prices increasing during the transition period between the goods and services tax and the sales and services tax, Azmin said the relevant ministries were monitoring the situation to ensure that businesses do not take advantage of consumers during this time.

“The main reason the PH federal government was elected was to ensure that the cost of living remains low.

“We do not want it to be mere announcements. Most importantly, enforcement efforts must be taken to ensure irresponsible quarters do not take advantage and raise prices as they like,” he said.

When asked on his meeting with the Council of Eminent Persons chairman Daim Zainuddin last Friday, Azmin said they had discussed mega projects undertaken by the previous government, including the Kuala Lumpur-Singapore High-Speed Rail project.

“We have to study it as we need to look at the portions of the projects for which acceptance letters have not been issued. For these projects, it may be easier to cancel them, but if there are already contractual agreements, obviously we need to consider the financial implications,” he said.

On the possibility of Hari Raya incentives for the Selangor civil service, Azmin said this would be discussed with the state treasury before any announcement is made at the monthly state government servants’ assembly next week.

“For this year, we need to look at the performance of officials and civil servants, as well as the state’s financial position,” he said.

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