I must say while I was pleased with the budget presented by YAB Prime Minister/Finance Minister yesterday. However, there are also a few elements which I expected to happen and it did not, I am not disappointed as I would be raising those matters during the debate session which would begin from 18th October 2010.
In the meantime, following are some of the highlights and my opinion with regards to the 2011 Budget;
The theme of the 2011 budget ‘Transformation Towards a Developed and High-Income Nation’ and would focus on the following four strategies;
1) Reinvigorating Private Investment;
2) Intensifying Human Capital Development;
3) Enhancing Quality of Life of the Rakyat; and
4) Strengthening Public Service Delivery.
• The Public-Private Partnership Initiatives would be further intensified and among projects that would take place would be the development of an Academic Medical Centre, which would be a joint venture development between Academic Medical Centre Sdn. Bhd. and John Hopkins Medicine International as well as Royal College of Surgeons Ireland – This project involves private investment of RM2 billion.
• The Private Pension Fund will be launched in 2011. This fund would benefit private sector employees and the self-employed. This initiative would provide an option for the Rakyat to invest for their old age.
• The Government has decided that more than 300 goods preferred by tourist and locals, at 5% to 30% be abolished. This would promote Malaysia as a shopping haven in Asia and on top of that even Rakyat can now afford branded goods.
• To intensify Human Capital Development and realizing that the most important asset of a nation is its Human Capital, as such the government has decided that the education and training will be restructured and strengthened.
• To strengthen Primary and Secondary Education the government has allocated RM250 million for development expenditure to religious schools, Chinese-type schools, Tamil national schools, missionary schools and Government assisted schools nationwide.
• To provide competent and quality teachers and instructors to better guide and educate students, the Government has decided to allocate RM576 million in the form of scholarships for those wishing to further their studies.
• RM200 million would be allocated by the Government to conduct part-time training in the evenings and weekends in selected training centres nationwide. Among courses offered in the evening include language classes in Bahasa Melayu, Mandarin, Tamil, English and Arabic as well as music classes.
• As I hoped and wished assisting the less fortunate was again the key factor in the 2011 budget. The government has decided to allocate RM1.2 billion to the Ministry of Women, Family and Community Development to carry out various welfare and community programmes as follows;
o Welfare assistance for senior assistance with an allocation of RM166 million.
o Children’s assistance programme with an allocation of RM121 million – this programme would be benefited by more than 97,000 children.
o Assistance programme to benefit 80,000 disabled individuals with an allocation of RM218 million.
• The rebate on the electricity payment which has benefited more than one million consumers nationwide would be continued with an allocation of RM150 million
• To assist estate workers to own houses, the government will provide Skim Pembiayaan Perumahan Kos Rendah with an allocation of RM50 million, managed by Bank Simpanan Nasional. This scheme is opened to all Malaysian Permanent estate workers to obtain housing loans with a maximum of RM60,000 for the purchase of low-cost houses at 4% interest rate and a repayment up to 40 years extending to the second generation.
• In appreciating the contribution of Community Leaders , government has decided to increase the allowances for the Chairman of JKKK and JKKP as well as Tok Batin and the Chairman of Kampung Baru. Meeting allowances for committee members would also be increased.
• A sum of RM100 million would be allocated to implement various programmes, including resolving Orang Asli land rights and border settlement issues as well as formulating a new development model for Orang Asli.
• To assist children, particularly those from the low-income group excel academically. The 1MDB will provide multi-vitamins for primary school students. This is done with a hope that it can help the children to enhance the mental development and strengthen the immune system.
• The toll rates in four highways owned by PLUS Expressway Berhad will not be raised for the next five years, effective immediately.
• In reducing the burden of civil servants in coping with schooling expenses by providing a Special Financial Assistance amounting to RM500. This assistance will be provided to all civil servants from Grade 54 and below, including contract officers and retirees - The payments would be made in December 2010.
Two areas which I was hoping that would appear in this budget is increase of the excise duty for Compounded Hard Liquor and also a minimum one month bonus for civil servants.
Any way, I would raise the above matters in my presentation in the Parliament and once my presentation is done, it would also be uploaded in my blog
In the meantime, following are some of the highlights and my opinion with regards to the 2011 Budget;
The theme of the 2011 budget ‘Transformation Towards a Developed and High-Income Nation’ and would focus on the following four strategies;
1) Reinvigorating Private Investment;
2) Intensifying Human Capital Development;
3) Enhancing Quality of Life of the Rakyat; and
4) Strengthening Public Service Delivery.
• The Public-Private Partnership Initiatives would be further intensified and among projects that would take place would be the development of an Academic Medical Centre, which would be a joint venture development between Academic Medical Centre Sdn. Bhd. and John Hopkins Medicine International as well as Royal College of Surgeons Ireland – This project involves private investment of RM2 billion.
• The Private Pension Fund will be launched in 2011. This fund would benefit private sector employees and the self-employed. This initiative would provide an option for the Rakyat to invest for their old age.
• The Government has decided that more than 300 goods preferred by tourist and locals, at 5% to 30% be abolished. This would promote Malaysia as a shopping haven in Asia and on top of that even Rakyat can now afford branded goods.
• To intensify Human Capital Development and realizing that the most important asset of a nation is its Human Capital, as such the government has decided that the education and training will be restructured and strengthened.
• To strengthen Primary and Secondary Education the government has allocated RM250 million for development expenditure to religious schools, Chinese-type schools, Tamil national schools, missionary schools and Government assisted schools nationwide.
• To provide competent and quality teachers and instructors to better guide and educate students, the Government has decided to allocate RM576 million in the form of scholarships for those wishing to further their studies.
• RM200 million would be allocated by the Government to conduct part-time training in the evenings and weekends in selected training centres nationwide. Among courses offered in the evening include language classes in Bahasa Melayu, Mandarin, Tamil, English and Arabic as well as music classes.
• As I hoped and wished assisting the less fortunate was again the key factor in the 2011 budget. The government has decided to allocate RM1.2 billion to the Ministry of Women, Family and Community Development to carry out various welfare and community programmes as follows;
o Welfare assistance for senior assistance with an allocation of RM166 million.
o Children’s assistance programme with an allocation of RM121 million – this programme would be benefited by more than 97,000 children.
o Assistance programme to benefit 80,000 disabled individuals with an allocation of RM218 million.
• The rebate on the electricity payment which has benefited more than one million consumers nationwide would be continued with an allocation of RM150 million
• To assist estate workers to own houses, the government will provide Skim Pembiayaan Perumahan Kos Rendah with an allocation of RM50 million, managed by Bank Simpanan Nasional. This scheme is opened to all Malaysian Permanent estate workers to obtain housing loans with a maximum of RM60,000 for the purchase of low-cost houses at 4% interest rate and a repayment up to 40 years extending to the second generation.
• In appreciating the contribution of Community Leaders , government has decided to increase the allowances for the Chairman of JKKK and JKKP as well as Tok Batin and the Chairman of Kampung Baru. Meeting allowances for committee members would also be increased.
• A sum of RM100 million would be allocated to implement various programmes, including resolving Orang Asli land rights and border settlement issues as well as formulating a new development model for Orang Asli.
• To assist children, particularly those from the low-income group excel academically. The 1MDB will provide multi-vitamins for primary school students. This is done with a hope that it can help the children to enhance the mental development and strengthen the immune system.
• The toll rates in four highways owned by PLUS Expressway Berhad will not be raised for the next five years, effective immediately.
• In reducing the burden of civil servants in coping with schooling expenses by providing a Special Financial Assistance amounting to RM500. This assistance will be provided to all civil servants from Grade 54 and below, including contract officers and retirees - The payments would be made in December 2010.
Two areas which I was hoping that would appear in this budget is increase of the excise duty for Compounded Hard Liquor and also a minimum one month bonus for civil servants.
Any way, I would raise the above matters in my presentation in the Parliament and once my presentation is done, it would also be uploaded in my blog
1 comment:
What are YB's comments on the following:
1. The compensation payable to PLUS in return for them not raising the toll for the next five years?
2. How do you justify endorsing the demand for a one-month bonus for civil servants. Do their productivity justify their demands for this bonus? Are they productive enough? Or do you endorse this claim for the sake of your popularity-seeking stunt? Please do not feel offended. as this is a common trait of current insecure politicians of the ruling party.
I am extremely glad that YB Hulu Selangor did not add as reason no 15 i.e. the proposed Menara Warisan.
I am curious too why YB did not comment on the announcement by the PM on various proposed mega projects, which seem to be efforts to sugarcoat the budget speech. To me, this is a serious lack of financial comprehension by YAB PM as the announcement of the proposed projects, mid-term in nature, should not have been included in his budget speech, unless these projects would be completed by the end of 2011. If Dr Mahathir were still pm,this feat would have been possible. But under other PMs, especially Najib, the king flip flop PM, I very much doubt he could have achieved that.
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