ID :
49935
Tue, 03/10/2009 - 21:15
Auther :
Shortlink :
https://oananews.org//node/49935
The shortlink copeid
RM60-BILLION STIMULUS PACKAGE TO FACE ECONOMIC DOWNTURN
KUALA LUMPUR, March 10 (Bernama) -- The government Tuesday unveiled its second economic stimulus package totalling RM60 billion (US$16.25 billion), comprising initiatives and ideas to invigorate vital sectors to maintain the people's welfare and prosperity in the face of the global economic downturn.
Deputy Prime Minister and Finance Minister Najib Razak, when tabling the
package in the Lower House of Parliament, said it would be implemented over two
years -- 2009 and 2010 -- and would have four thrusts.
These were reducing unemployment and increasing employment opportunities;
easing the burden of the people, in particular the vulnerable groups; assisting
the private sector in facing the crisis; and building capacity for the future,
he said.
Najib said the government would continue to implement appropriate measures
to strengthen the confidence of the people and ease the burden, particularly of
the vulnerable groups.
"In view of the deteriorating global economy, the Second Stimulus Package is
significantly larger and more comprehensive, encompassing various economic
sectors and target groups.
"This includes workers, consumers, investors, small and medium businesses,
exporters and unemployed graduates," he said.
Najib, while being open about the severity of the global economic prospects,
said he was confident that Malaysia would be able to face this difficult and
challenging environment with the spirit of unity among the people, just as the
country had successfully overcome several crises in the past.
He said Malaysia could not depend on orthodox economic recovery policies,
but must be bold in formulating innovative approaches to deal with the crisis.
"There have been increasing calls by the people for the government and the
opposition to set aside political differences and focus on the economy.
"I personally acknowledge these calls and, therefore, urge all parties, from
the government and opposition to focus on the economy and the people," he said,
inviting the opposition to work together in the effort.
"There are high hopes, when faced with an economic storm, for us to always
work together and think of doing the best for the people," he said.
Najib announced the package, regarded as a mini budget, when tabling the
Supplementary Supply Bill 2009 for second reading in the Lower House.
On Nov 4 last year, the government announced the First Stimulus Package
totalling RM7 billion which, according to Najib, was being actively implemented
and RM6.5 billion of which had been channelled to projects.
The second package also gives special focus to the people of East Malaysia
states of Sabah and Sarawak, particularly in the provision of infrastructure for
which RM1.2 billion is to be allocated to increase economic activities.
(US$1=RM3.72)
-- BERNAMA
Deputy Prime Minister and Finance Minister Najib Razak, when tabling the
package in the Lower House of Parliament, said it would be implemented over two
years -- 2009 and 2010 -- and would have four thrusts.
These were reducing unemployment and increasing employment opportunities;
easing the burden of the people, in particular the vulnerable groups; assisting
the private sector in facing the crisis; and building capacity for the future,
he said.
Najib said the government would continue to implement appropriate measures
to strengthen the confidence of the people and ease the burden, particularly of
the vulnerable groups.
"In view of the deteriorating global economy, the Second Stimulus Package is
significantly larger and more comprehensive, encompassing various economic
sectors and target groups.
"This includes workers, consumers, investors, small and medium businesses,
exporters and unemployed graduates," he said.
Najib, while being open about the severity of the global economic prospects,
said he was confident that Malaysia would be able to face this difficult and
challenging environment with the spirit of unity among the people, just as the
country had successfully overcome several crises in the past.
He said Malaysia could not depend on orthodox economic recovery policies,
but must be bold in formulating innovative approaches to deal with the crisis.
"There have been increasing calls by the people for the government and the
opposition to set aside political differences and focus on the economy.
"I personally acknowledge these calls and, therefore, urge all parties, from
the government and opposition to focus on the economy and the people," he said,
inviting the opposition to work together in the effort.
"There are high hopes, when faced with an economic storm, for us to always
work together and think of doing the best for the people," he said.
Najib announced the package, regarded as a mini budget, when tabling the
Supplementary Supply Bill 2009 for second reading in the Lower House.
On Nov 4 last year, the government announced the First Stimulus Package
totalling RM7 billion which, according to Najib, was being actively implemented
and RM6.5 billion of which had been channelled to projects.
The second package also gives special focus to the people of East Malaysia
states of Sabah and Sarawak, particularly in the provision of infrastructure for
which RM1.2 billion is to be allocated to increase economic activities.
(US$1=RM3.72)
-- BERNAMA
