Perikatan exploring all options to boost economy, says Muhyiddin

Chan Kok Leong Ragananthini Vethasalam Chan Kok Leong, Ragananthini Vethasalam Updated 4 years ago · Published on 11 Mar 2020 1:09PM · 3 Comments

Prime Minister Muhyiddin Yassin chairs his first cabinet meeting today. – The Malaysian Insight pic by Nazir Sufari, March 11, 2020.


THE Perikatan Nasional (PN) government will look into all options to strike a good economic balance, Prime Minister Muhyiddin Yassin said today.

This includes reintroducing the controversial goods and services tax (GST).

“We will look into everything because we have only sat for the first time today,” he said at a press conference after chairing the new administration’s first cabinet meeting.

The prime minister was responding to a question on whether the new administration would bring back GST.

He said the measures taken would be in line with some of the policy changes the government would be adopting fiscally and financially to strengthen the economy.

He  added that the government would look into options that were not too burdensome to the people, and at the same time, would not impede the government’s revenue-generating capabilities.

On whether the government was considering a budget recalibration, he said Finance Minister Tengku Zafrul Tengku Abdul Aziz would present a report on the country’s financial standing in the Economic Action Council meeting next Monday.

Muyyiddin said he would wait for the report before making a decision.

Budget 2020 was drawn up based on the Brent crude oil price of US$62 (RM262) per barrel. At the time of writing, Brent crude was trending at US$37.90 per barrel. 

GST was introduced by Barisan Nasional in 2014, evoking complaints that refunds were slow and had stifled business growth. On the consumer side, the GST of 6% had also caused widespread anger among Malaysians and was one of the chief reasons voters had voted out the government in 2018.

The consumption tax was removed by Pakatan Harapan shortly after it come into power in May 2018. It was replaced by the sales and services tax.

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Comments

  • All must be ready with more suffering. SST + GST, prices will rocket up with immediate effect.

    Posted 4 years ago by James Wong · Reply

  • I watched the press con, most ridiculous thing was setting up tabung covid asking for public donations but when a reporter asked whether cabinet is reducing costs by taking a salary cut, he didn't give a straight answer.

    Posted 4 years ago by A Subscriber · Reply

  • I watched the press con, most ridiculous thing was setting up tabung covid asking for public donations but when a reporter asked whether cabinet is reducing costs by taking a salary cut, he didn't give a straight answer.

    Posted 4 years ago by A Subscriber · Reply