Tuesday, 13 May 2014

Cost of living, subsidy rationalisation focus of Budget 2015, says Husni

From: www.themalaysianinsider.com
May 11, 2014

Ahmad Husni Mohamad Hanadzlah (centre) reading a book with some children during the Mengimarahkan Perpustakaan 1Malaysia programme in Manjoi, Ipoh, Perak, yesterday. - UTUSAN/Sayed Hesham

Efforts to reduce the cost of living and aspects of subsidy rationalisation will continue to be the government's main focus in preparing Budget 2015 which is expected to be tabled in Parliament on October 10, 2014.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said besides that, a new aspect that would be emphasised was the entrepreneurship sector.

"For cost of living, the priority is on price increase, so we will look at how efforts to strengthen the supply chain can be carried out," he told reporters after launching a programme to enhance Kampung Dato Ahmad Said Tambahan 2 1Malaysia Library in Manjoi, Ipoh, today.

He said the focus would also be directed at how the government could save with the subsidy rationalisation initiatives so that the revenue could be channelled to the target groups.

Entrepreneurship was a new aspect that would be given focus in line with the establishment of the Malaysian Global Innovation and Creativity Centre (MaGIC) launched recently, he said.

Husni said the entrepreneurship sector was an important factor to the growth of the country's economy and in view of this, the government had established MaGIC.

"The objective is to bring forward the talents of the young generation. In terms of innovation and creativity, we actually are capable of going to the global market," he said.

Meanwhile, Husni said the budget consultation sessions would start on May 26 under the chairmanship of Prime Minister Datuk Seri Najib Tun Razak who is also the Minister of Finance.

"It will be attended by about 400 representatives from the industrial and banking sectors and various non-governmental organisations," he said.

This would be followed with discussions by focus groups involving various parties, and for Budget 2015, the ministry is also getting input from gender-based groups, he said.

On the decline in Chinese tourists following the Malaysia Airlines flight MH370 tragedy, he said the Ministry of Tourism and Culture was actively carrying out promotions in other countries.

"We will know the outcome (contribution from the tourism sector to the gross domestic product) later and from there, whether the decrease in tourists from China could be replaced by tourists from other countries," he said. – Bernama, May 11, 2014.

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