KUALA LUMPUR, March 9 – Yang di-Pertuan Agong Tuanku Abdul Halim Mu’adzam Shah is confident the Goods and Services Tax (GST) to be implemented next month will help to strengthen the national economy. He said every Malaysian must join in making the initiative successful, like other nations, which did so to ensure a myriad of benefits could be enjoyed in the long term.
“The government and the people must double up enforcement and monitoring activities to prevent traders from taking the opportunity to use GST as an excuse to raise prices which can burden the people,” he said. Tuanku Abdul Halim said this when opening the First Meeting of the Third Session of the 13th Parliament here today. He was accompanied by the Raja Permaisuri Agong Tuanku Hajjah Haminah.
Also present were Prime Minister Datuk Seri Najib Tun Razak and Deputy Prime Minister Tan Sri Muhyiddin Yassin. In the meantime, Tuanku Abdul Halim was grateful for the national economic development despite the challenging global environment, including the fall in prices of crude oil, commodities and currency fluctuations.
He said the strategies and steps which were taken by the government were clearly to ensure the economic foundation and national finances continued to be firm and sustainable in ensuring the national and people’s developments were assured. “I congratulate the Prime Minister on the proactive measures to address these challenges by realigning the economic policies and performing fiscal consolidation.
“Although, the national revenue will reduce, the economic development stays balanced, inclusive and sustainable. Economic development for the welfare of the people is not sidelined, in fact, will be continued specifically in ensuring the prosperity of the low and moderate income group.”
He said the conference this time was also important because the government would be tabling the Eleventh Malaysia Plan (RMK11) to ensure the continuity of the national socio-economic development. Tuanku Abdul Halim said the formulation of RMK11 was more challenging because it also needed to give attention to the post flood recovery and mitigation efforts, other than tackling global challenges.
“I hope the elected representatives can debate sincerely and constructively for the welfare and well-being of the people,” he said. He also urged all quarters to work with more determination to develop Malaysia as there were merely five years remaining for this country to achieve a developed nation status with high income.
In another development, Tuanku Abdul Halim said the setting up of the National Export Council would strengthen the network of products, logistics and production to boost national export. As such, he urged the people to play a role by maintaining national harmony and stability to lure investors as the government had provided a conducive investment environment.
“In line with the strategy to strengthen the national economy and competitiveness, the effort to boost investment and strengthen trade must be escalated especially by creating an Asean Economic Community,” he said. Tuanku Abdul Halim also congratulated Malaysia on its election as 2015 Asean Chairman and 2015-2016 United Nations Security Council Non-Permanent Member which showed the recognition of the international society for Malaysia.