KUALA LUMPUR, Sept 11 — The government is re-examining the national development plan including reviewing the public-private partnership (PPP) policy, said Prime Minister Datuk Seri Anwar Ibrahim today.
The review is to ensure the implementation of PPP projects can benefit the people and the country, encourage private investment and control the financial impact on the government in the future.
“A clear PPP policy on land exchange methods will also be introduced,” he said when presenting the motion for the Half-Term Review of the 12th Malaysia Plan (2021 – 2025) in the Dewan Rakyat today.
The review of the national development plan is among the five main things that will be the government’s focus to re-strengthen fiscal sustainability through the main shift of Fiscal Sustainability and the Financial System.
Other things that the government is focusing on are the expansion of the tax base, transparency in the procurement system, improvement of the targeted subsidy delivery mechanism, as well as improvement of debt and liability management.
Anwar said he is enacting new taxes to be implemented in 2024, including the Capital Gains Tax, but will ensure they are not beyond the means of the people.
This step was taken to expand the tax base, diversify tax sources and improve taxation administration through the use of technology.
“However, it must be emphasised that this government serves the people and will never burden the people with tax rulings beyond their means. The principle we adopt is fair economic equality for the well-being of all,” he added.
Anwar said fiscal reform is needed to ensure the country’s financial management is more effective and sustainable.
The restructuring of electricity, diesel, and petrol subsidies and other social assistance will be done to ensure more prudent fiscal management and reduce economic distortions.
“Guarantees are given that the less fortunate remain the government’s priority to be saved and will continue to be helped,” he said.
The targeted distribution of subsidies and aid to the people will be coordinated through the Main Data Base System (Padu) which is based on household data to improve the efficiency and monitoring of government aid.
Anwar said savings from more targeted subsidies will be able to be redistributed for the purpose of development projects and the people’s programmes.
— Bernama
