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No News Is Bad News
Let the nightmares begin for the corrupt
KUALA LUMPUR, Jan 31, 2024: Now that Johor’s Sultan Ibrahim is Malaysia’s 17th Yang di-Pertuan Agong (King), the fight against the corrupt and corruption is expected to intensify further.
This is because both the new King and Malaysia’s 10th Prime Minister (PMX) Anwar Ibrahim are in the same tune - the strive for good governance and it begins with the focus on the Malaysian Anti-Corruption Commission (MACC)’s without fear and favour crackdown on the suspected corrupt ikan jerung (sharks) and ikan billis (anchovies).
Malaysians surely do not sympathise with the corrupt suspects who may suffer from sleepless nights.
The nightmares are just beginning for the corrupt, as the Government focuses fully on healing Malaysia's RM1.5 trillion national debt economy.
No News Is Bad News reproduces below two news reports on the King and PMX’s support for good governance in Malaysia:
MALAYSIA
Government fully supports King's order to see Malaysia continue good governance, says Anwar
Anwar also stated that the government and the people are grateful to the 16th Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah.
Updated 34 minutes ago · Published on 31 Jan 2024 7:16PM
Prime Minister Datuk Seri Anwar Ibrahim said it resonated with millions of Malaysians' aspirations to see the country's continued stability - Bernama, January 31, 2024
THE Madani government fully supports His Majesty Sultan Ibrahim's order for the country to continue its good, transparent governance and sustainable economic growth and focus on efforts to improve the people's living standard.
Prime Minister Datuk Seri Anwar Ibrahim said it resonated with millions of Malaysians' aspirations to see the country's continued stability for their prosperity and well-being and have opportunities and a better future for all.
"Hence, let us celebrate the beginning of the reign of the 17th King of Malaysia, His Majesty Sultan Ibrahim," he said in a post on Facebook on Wednesday (Jan 31).
Anwar also stated that the government and the people are grateful to the 16th Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah for the far-sighted and visionary views expressed in his role as the Constitutional Monarch, allowing the country to enjoy the current political, social and economic stability. - Bernama, January 31, 2024
MALAYSIA
PM Anwar's Madani framework will make Malaysia more resilient with strong fiscal position - economists
Anwar introduced the concept of Malaysia Madani on Jan 19, 2023, an initiative that is inclusive of all groups and races.
Updated 4 days ago · Published on 27 Jan 2024 12:47PM
The Madani concept has set the stage for economic reforms - The Vibes, January 27, 2024
THE Madani framework embarked by the government would enable Malaysia to become more resilient, competitive and agile in a few years to come, with strong fiscal position that would enable the government to have the financial muscle to devise development programmes more effectively, economists said.
Under the framework mooted by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim, the government will focus on the problem-solving process and values to build good morals in building a better society through six pillars, namely sustainability, prosperity, innovation, respect, trust and compassion.
In line with the focus, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid believed that transparency and fairness in government dealings would create trust and confidence in the rakyat.
“The Madani concept has set the stage for economic reforms. Since it was launched, there have been several policy announcements such as the National Energy Transition Roadmap (NETR), New Industrial Master Plan (NIMP) 2030, Mid-Term Review of the 12th Malaysia Plan (MTR 12MP) and Budget 2024.
”The government has launched the Central Database Hub (PADU) in early January 2024, while the Public Finance and Fiscal Responsibility Act has also been approved by Parliament in October last year,” he told Bernama.
In that sense, he opined that the present administration has demonstrated its commitment to ensure that the economy would be more competitive and financially disciplined.
“I suppose it is now about execution and (we will) be able to see the desirable outcome,” he pointed out.
Anwar introduced the concept of Malaysia Madani on Jan 19, 2023, an initiative that is inclusive of all groups and races, to restore the country’s dignity and glory on the world stage as well as aiming to propel the nation towards development and prosperity.
Touching on the NETR, Mohd Afzanizam said the roadmap essentially talks about energy transition which would certainly open up new opportunities for businesses to thrive as the country transforms towards a greener economy.
“Along the way, there will be a need for capacity building such as the availability of a highly skilled workforce and employing advanced technology in the production processes.
"All these would require massive investments, in which foreign investors will assess Malaysia accordingly and would put their money after completing their due diligence,” he said.
He noted that these documents would serve as important information for investors to form their opinions before committing their investments.
More importantly, he said the government needs to strategically communicate all the initiatives to the rakyat and should mobilise its machinery, at the federal or state level.
“It also needs to showcase its progress report... let's say every quarterly. That way, we can see the outcome,” he said.
Echoing similar thoughts, Malaysia University of Science and Technology economics professor Geoffrey Williams said civil servants need to be retrained from their old-fashioned way of thinking into an efficient and smarter way of mobilising the MADANI concept, making it a success for the whole nation.
He opined that the Madani framework would be significant in changing the way people think, but it must be embedded into policy designs and practices that require changes and speed in implementation.
“Nevertheless, we have started to see a change in approach to the economy under the MADANI framework with better fiscal management, a stronger focus on cutting wastage, leakages and corruption, and an emphasis on structural reforms,” he noted.
On taxes, Williams believed that Malaysia needs a fresh new look at taxes and a plan to reform taxes during the rest of the parliamentary sittings in search of fiscal headroom.
“Reducing taxes is always better than increasing taxes, but the government has inherited a very inefficient tax system built up over time with ad hoc taxes based on old-style thinking,” he said.
On Jan 16, Finance Minister II Datuk Seri Amir Hamzah Azizan said the government had agreed to exempt the imposition of capital gains tax (CGT) as well as taxes on foreign sourced income (FSI) on unit trusts, with the exemption on CGT effective from Jan 1, 2024, until Dec 31, 2028, while the exemption on FSI is effective from Jan 1, 2024, until Dec 31, 2026.
"Given that more than 90 per cent of unit trust holders are individuals, the government will continue to make capital market investments in Malaysia rakyat-friendly," he said. - Bernama, January 27, 2024
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