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Published: Tuesday March 4, 2014 MYT 12:00:00 AM
Updated: Tuesday March 4, 2014 MYT 7:47:43 AM

Najib: Subsidy gains will spur growth

PUTRAJAYA: More development projects can be expected from the savings which the Government would gain from its subsidy rationalisation measures, Datuk Seri Najib Tun Razak said.

The Prime Minister said the projects would be rolled out under the 11th Malaysia Plan, and these would include the construction of additional schools, urban and rural roads, water treatment plants and flood mitigation projects.

He emphasised that the projects would involve large costs, thus there was a need to introduce adjustments to the subsidies that the Federal Government spent annually on items such as fuel and sugar.

“In spite of the subsidy rationalisation measures, we are sensitive to the people’s concerns over the rising cost of living, and we take measures to monitor these prices and provide targeted subsidies,” Najib said at the Prime Minister’s Department’s monthly staff assembly here yesterday.

“These are for the growth of our economy and I hope we will all give our support towards the Government’s policies.”

Najib reiterated that the inclusive and strong policies of the Government had continued to put Malaysia on the right track to becoming a developed nation by 2020.

He added that the country had shown an impressive growth in its trade, investment and economy, with RM1.36 trillion in trade values and attracting RM216bil in investments.

However, Najib also reminded his administration not to be quick in being satisfied with the results but to continuously seek to bring greater improvement.

“As a nation, we need to consistently practise self-development and self-improvement so that we can attain a higher growth rate,” he urged.

“There are many other countries that are faced with different problems,” he said. “However, we, in Malaysia, must always be prepared for any eventuality by taking proactive measures.”

Tags / Keywords: Government, Najib Razak, subsidy rationalisation, 11th Malaysia Plan, fuel, sugar, subsidies

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