Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed speaks to the media at Parliament Building, September 27, 2021. — Bernama pic
KUALA LUMPUR, Nov 15 — The Economic Planning Unit (EPU) will send a circular to the ministries, state governments, Members of Parliament (MPs) and state assemblymen (ADUN) relating to the reapplication of financial allocations under the 12th Malaysia Plan (12MP) and Budget 2022.
Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed said those who did not receive financial allocations under the 12MP and Budget 2022 but had previously made the applications for the allocations, can reapply from March next year.
The applications can be made online through MyProject system.
“As a central agency encompassing all ministries including the Ministry of Finance (MoF), we (EPU) are responsible to consider applications that have been made and any improvements would be made next year.
“At present, the EPU is more in contact with the ministries directly.
“However, based on more than 600 engagement sessions made under 12MP, the state governments, MPs and ADUN also want to be involved more intensively,” he said during a winding up session on the Supply Bill 2022 at the policy level for the Prime Minister’s Department (Economy) in the Dewan Rakyat today.
He said the application period would start from March 1-31, 2022.
Mustapa said since the 10MP, the government has started to consider any plan annually in terms of a rolling plan which is more elastic and flexible instead of setting a fixed amount every five years as had been done previously.
Nevertheless, he explained that the applications would also take into account the government’s ability through the MoF to implement any plans.
“Amid the Covid-19 situation, the government is also facing financial constraints…we’ve received a lot of applications. In the spirit of the Malaysian Family, it’s important to compromise, whereby the richer states will help the other states,” he said.
Meanwhile, to a question on increasing the Bumiputera equities in companies, Mustapa stressed that the shareholding of 17.2 per cent by the Bumiputera community was difficult to increase.
“It is challenging as there’s a tendency for the Bumiputera to sell their assets to non-Bumiputera, and secondly, due to structure issue wherein there’s a policy that allows 100 per cent shareholding in manufacturing by non-Bumiputera and foreign investors.
“Hence, the government plans to amend the Companies Act related to the Malaysian Anti-Corruption Commission to demand shareholders to announce the ultimate shareholder,” he explained.
Besides that, Mustapa also announced that under the agenda to eradicate hardcore poverty for household income below RM1,169 per month, the EPU would start an integrated pilot project by selecting two areas in each state in the peninsula and four or five areas in Sabah and Sarawak.
“This one-off project for two years will get all parties together including government departments, universities, non-governmental organisations and Islamic religious councils to assist in generating income for this group. It will start next year and hoped this approach that is more holistic can avoid overlapping and wastage of resources,” said Mustapa. — Bernama