New Economic Direction To Follow Mid-Term 11MP Review

KUALA LUMPUR, May 28 (Bernama) -- The mid-term review on the state of the economy, to be tabled in September, will lead to a new economic direction for the country in line with Pakatan Harapan's manifesto, said Economic Affairs Minister Mohamed Azmin Ali. He said the ministry and the Economic Planning Unit (EPU) of the Prime Minister’s Department were currently in the midst of undertaking the review. "Hence, this time the mid-term review is rather different, as we will not only review the achievements under the 11th Malaysia Plan over the last two years but also set new targets based on Pakatan Harapan's promises,” he told reporters at a breaking of fast with the Gombak community here Sunday. Asked on his first week as a federal minister, the Selangor Chief Minister said he used all his time attending briefings and obtaining feedback from the EPU on plans for the country's socio-economic development. On the possibility of prices of goods increasing during the transition period between the Goods and Services Taxand the Sales and Services Tax, Azmin said relevant ministries were currently monitoring the situation on the ground to ensure that businesses would not take advantage of the transition period. "The main reason the Pakatan Harapan Federal government was elected is to ensure that the cost of living remains low. "We do not want it to be mere announcements. Most importantly, enforcement efforts must be taken to ensure irresponsible quarters do not take advantage and raise prices as they like," he added. Asked on his meeting with the Council of Eminent Persons Chairman Daim Zainuddin last Friday, Azmin said they discussed mega projects undertaken by the previous government, including the Kuala Lumpur-Singapore High-Speed Rail project. "We have to study it as we need to look at the portions of the projects for which acceptance letters have not been issued. For these projects, it may be easier to cancel them, but if there are already contractual agreements, obviously we need to consider the financial implications,” he said. -- BERNAMA