Dr M: Govt mulling new taxes to pay debts that turned M'sia into a 'small kitten'

  • Nation
  • Tuesday, 09 Oct 2018

Prime Minister Tun Dr Mahathir Mohamad

KUALA LUMPUR: The government may need to devise new taxes to pay off its debts, says Tun Dr Mahathir Mohamad because the previous administration left many problems that have turned Malaysia from an Asian tiger into a small kitten. 

Another way is to sell some of the government's land to locals in order to raise new sources of funds.

The Prime Minister said one major problem which the government was currently facing was in finding the money needed to pay off the huge debts left behind by the previous administration.

He said that it had been suggested that the government should introduce new taxes.

"I don't think that is something welcomed by the people, but we may have to devise new taxes in order to have the money to pay our debts," Dr Mahathir said in his keynote address at an investors conference titled 'Malaysia: A New Dawn' on Tuesday (Oct 9).

The conference is jointly organised by Malayan Banking Bhd, CIMB Group Holdings Bhd and RHB Banking Group.

One other thing which the government could do, said the Prime Minister, was to sell some of its assets in order to raise the funds needed.

Dr Mahathir said land was one type of asset which the government could consider selling.

However, he noted how the previous government had sold a lot of land to foreigners.

"I don't think that would be good for us, but we can still sell land to locals so that they can develop the housing projects and settlements that they believe will give them returns," he added.

The Prime Minister said the government may also have to sell some of its valuable assets, but did not elaborate further on what they were.

Dr Mahathir said that while Malaysia was once known as an Asian tiger, it had now become a "small kitten" due to the problems left behind by the previous administration.

"It is hoped that with forums like this, people can give ideas to the government and that the government can implement some of those ideas.

"I am sure that this country will again grow to become yet another tiger," he added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Nation

Sabah gets seven deputy ministers
Fate of sec-gens: Chief Secretary to Govt to make announcement, says Anwar
Lorry driver severely injured in accident at Gunung Emas
SRC case: Apex court to hear bid to strike out appeal by King's counsel on March 15
Anwar names deputy ministers
New unity govt must show it’s able to uphold Malay interests to stem support for Perikatan, say analysts
Croc spotted at KK's popular Likas Bay beach
Govt will remain consistent in fight against corruption, says Anwar
Policies beneficial to the people will be continued, says Religious Affairs Minister
Sabah Immigration Dept denies mistreatment allegation at Kimanis detention depot

Others Also Read