THE Federal Government has to effectively implement the Economic Transformation Programme (ETP) for better performances and services.
Penang Chinese Chamber of Commerce (PCCC) president Datuk Seri Choot Ewe Seng called on the Government to adopt better performance management mechanism, strengthen supervision and monitoring, integrity and responsibility, anti-corruption measures as well as national financial prudence.
“We also urge the Government to review and abolish the obsolete laws,” he said during PCCC annual general meeting recently.
He added that views from all stakeholders must be considered and heard before any new policy was implemented.
Choot said the Government must also carefully study, formulate and implement new policies in order to avoid frequent policy reversals that would affect the Government’s credibility and cause the business community to suffer financial losses.
During the AGM, Choot also called on Bank Negara Malaysia (BNM) to rescind the plan to impose a 50 sen charge as cheque processing fee from next year.
“It may look like a small amount but businesses may have to issue 10 cheques a day and this will come up to RM5,” he said.
Instead, he said BNM should improve the services of electronic payments and adopt stringent security measures to ensure transaction security for customers.
In addition, Choot said PCCC was also suggesting that the Government reduce corporate tax rate from 25% to 18% to encourage more local and foreign investment.
“Personal income tax rate should also be gradually reduced from 26% to 18%,” he said.
