KUALA LUMPUR: An additional RM15bil will be allocated to implement initiatives under the 12th Malaysia Plan (12MP), bringing the total allocation for the five-year development plan to RM415bil.
Under the 12MP tabled and passed by the Dewan Rakyat in 2021, RM400bil was allocated to fund new development initiatives and continue existing ones.
“The increase in allocation is to fund the people’s main needs while improving the quality of management and making subsidies more targeted to support the rakyat’s needs. The country recorded a higher gross national income per capita in 2022 at RM52,968 compared with RM42,838 in 2020. The expansion of the tax base and management of the tax system with technology, diversification of government revenue streams, targeted subsidies and prudent fiscal management to better manage the country’s finances are also part of the agenda, he added.“It must be emphasised that this government serves the people and will never burden the people with taxes that are beyond their means,” he said, adding that the government will continue to take care of those in need and aid will continue.
“Savings from targeted subsidies will be redistributed through development projects and programmes,” he said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
12MP review: Govt planning start-up congress to boost technopreneur numbersKUALA LUMPUR: A convention for technology-based start-ups will be held soon as an initiative to produce more technopreneurs, says Datuk Seri Anwar Ibrahim.
Read more »
12MP review: Big boost for tiger conservationKUALA LUMPUR: Measures to protect the increasingly threatened Malayan Tiger (Panthera tigris jacksoni) will strengthened, says Datuk Seri Anwar Ibrahim.
Read more »
Anwar tables 12MP mid-term review, reveals extra RM15bil allocationKUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has tabled the 12th Malaysia Plan (12MP) Mid-Term Review in the Dewan Rakyat here on Monday (Sept 11).
Read more »
12MP review: Sabah welcomes funds to tackle water woesKOTA KINABALU: The additional allocation under the 12th Malaysia Plan mid-term review for Sabah to address water woes has been anticipated for a long time, says Deputy Chief Minister Datuk Shahelmey Yahya.
Read more »
AKLEH now accepts credit and debit cards for toll paymentsKUALA LUMPUR, Sept 10 — The Ampang-Kuala Lumpur Elevated Highway (AKLEH) is now accepting credit and debit cards as it has started its open payment system trial yesterday,...
Read more »
Anwar: 12MP MTR to unravel country’s development, people’s socioeconomic well-beingKUALA LUMPUR: The 12th Malaysia Plan (12MP) Mid-Term Review (MTR) slated to be tabled at the Dewan Rakyat today will unravel various matters related t...
Read more »