RM5 BILLION FROM STIMULUS PACKAGE TRANSFERRED

PUTRAJAYA, Jan 22 (Bernama) -- Deputy Prime Minister Najib Razak said of the
RM7 billion (US$2 billion) from the first stimulus package, RM5 billion (US$1.4
billion) had been transferred to the various operating ministries and agencies.

Najib, who is also Finance Minister said, the remaining RM2 billion
(US$558.8 million) would be transferred by next week.

"The entire RM7 billion will thus be in the hands of the ministries and
agencies and they have to take immediate action," he told reporters after
chairing the National Drug Eradication Action Council meeting here Thursday.

As to the timing of the announcement on the second stimulus package, Najib
said the government would decide on that.

"At this stage, we want to ensure the RM7 billion is expanded quickly. We
have instructed all operating ministries to take immediate action, " he said.

On Tuesday, Najib had said a second stimulus package would be introduced to
assist companies and workers affected by the weakening economic climate.

He said the details, features and focus of the second package was still
being studied and discussed with various quarters.

Last November, the government announced the RM7 billion stimulus package
aimed at achieving a 3.5 percent economic growth this year.
-- BERNAMA