Mustapa Mohamed, who chairs a special parliamentary select committee on the Budget said a system upgrade is crucial as it would help the government in formulating related policies.

”We do not have enough information about the new economies and we have to make sure the focus is given to those areas which are more relevant and important to all.

”Jobs can be created anywhere but the hard part is when they involve the informal sectors.

“As the government, we need to improve the quality of data of all areas, including those in the digital sector, ” he said at a town hall meeting on the 2020 Budget, organised by the Asian Strategy and Leadership Institute and Higher Education Youth Association here today.

Mustapa, who is MP for Jeli, is a former second finance minister.

He said: “Things are transforming rapidly and our data collection machinery has got to be revisited. It is important so that we have the real data that is relevant to the current landscape. (The) changes are very rapid and if you are behind the curve, then we might come out with a wrong policy,” he said.

On the other hand, Mustapa asserted that the government needs to have a better understanding of micro issues.

”I think we do not have a thorough understanding of what’s happening on the ground such as in the tourism and construction (sectors) or even the nature of graduate employment.

”A better understanding would definitely help the government come up with plans for our youngsters’ future, ” he said.

The town hall meeting was aimed at understanding the 2020 Budget, especially its embedded concept of the Shared Prosperity Vision 2030. It was moderated by ASLI chief executive Melissa Ong.