By Amar Shah Mohsen
SHAH ALAM, Sept 11 – The government has increased the spending ceiling for the 12th Malaysia Plan (12MP) by RM15 billion, in order to finance initiatives aimed at assisting the public, Datuk Seri Anwar Ibrahim said.
This will take the overall allocation for the five-year plan to RM415 billion, up from the initial RM400 billion, the Prime Minister said during 12MP’s mid-term review tabling in Parliament today.
The government gives its commitment to spend at least RM90 billion a year from 2023 to 2025. For the record, RM64.3 billion and RM71.6 billion respectively were spent for 12MP in 2021 and 2022.
“This means the government will spend the totality of the RM400 allocation made previously under 12MP and will increase the ceiling by RM15 billion, bringing the total to RM415 billion.
“The increment is in view of the need to increase the allocation for initiatives prioritising the rakyat, improving the quality of management, and restructuring subsidies,” he said.
Anwar said under the mid-term review, the initial focus will be given to efforts to put an end to poverty, addressing infrastructural issues and basic needs of the public, including the upgrading of dilapidated clinics and schools, ensuring clean water supply, and empowering the Islamic economy.
“We will comprehensively review our policies, strategies and targets, taking into account the urban and rural development gap, as well as between the rich and poor, the nation’s swelling debt, limited fiscal space, and slow economic structure transition.
Anwar, who is also the finance minister, said the 12MP mid-term review themed ‘Sustainable, Prosperous and High Income’ comprises 12 affirmations under three main focuses, as follows:
Focus 1: Towards a high-income nation
- Affirmation 1: Boosting economic growth
- Affirmation 2: Expediting the economic structure reformation
- Affirmation 3: Driving competitiveness of strategic sectors and industries
- Affirmation 4: Increasing territories’ economic potential
Focus 2: Building a prosperous society
- Affirmation 5: Bridging inequality gap
- Affirmation 6: Improving public welfare and cultivating society
- Affirmation 7: Improving talent for the future
- Affirmation 8: Strengthening national security and defence
Focus 3: Strengthening sustainability and governance
- Affirmation 9: Hastening transition to a future-proof economy
- Affirmation 10: Improving fiscal sustainability
- Affirmation 11: Increasing efficiency of public service delivery
- Affirmation 12: Improving implementation and monitoring system efficiency
In his closing remarks, Anwar admitted that it was not easy for him and his government to focus efforts to recover the country amid constant attack, allegations and slanders from various parties, as well as global economic and geopolitical challenges.
As such, he urged all quarters to be united in rebuilding the nation.
“I urge all to prioritise the country’s future. The unity of the people, which is based on courtesy and mutual respect, will bring stability to the country, which is vital for the government to be able to ensure prosperity for its people.
“As we celebrate the 60th anniversary of Malaysia’s formation, I’m confident now is the time for us to correct the situation and make sure every citizen can taste happiness and peace without ever feeling left out,” he said.
