Oleh/By  	:	DATO SERI DR MAHATHIR BIN MOHAMAD
Tempat/Venue	:	PRIME MINISTER'S OFFICE
Tarikh/Date	:	25-09-2001
Tajuk/Title 	:	THE NEW STIMULUS PACKAGE TO 
			SUSTAIN ECONOMIC GROWTH
Versi 		:	ENGLISH
Penyampai	:  	PM 

  
   The  world economy appears to have taken a negative  turn
   following  the  recent  events in the  United  States.  A
   global  economic slowdown appears imminent.  As  an  open
   economy,   this  will  have  its  implications   on   the
   Malaysian economy.
   
   The  Government  has, therefore, decided to  implement  a
   stimulus package with the following objectives:
   
   - Generate economic activities with spin-off effects.

   - Expedite implementation of existing and new small-scale
     projects  that  will  generate  business   and   income
     opportunities for small contractors and enterprises.

   - Cushioning  the implications  on the poor and other less
     advantaged  segments  of the  society from the impact of
     the economic slowdown.
   
   - Reduce impact of the slowdown by encouraging retrenched
     workers and  the unemployed graduates to  attend  skill
     training programmes and assist employers   to  increase
     training of their workers who may be retrenched.
   
   - Facilitate   private  sector  growth   by   removing
     bureaucratic  impediments  both  in the  public  and 
     private  sectors.
   
   The  stimulus package, which will cost the Government  RM
   4.3  billion,  will  consist among others  the  following
   projects:
   
   - A RM 1 billion allocation  for small rural and  selected
     urban development projects.
 
   - Double the current rates for welfare payments under  the
     Ministry of  Welfare  and  National   Unity in order  to 
     assist poor families. This will cost about RM 80 million
     per annum.

   - Special allocation for upgrading KEMAS tadikas.
   
   - Additional   RM   300  million fund  for   upgrading  and
     maintenance  work  for  Government buildings and quarters
     and facilities, particularly  schools and police stations,
     and rural infrastructure.
   
   - Additional RM 300 million for the construction of computer 
     labs in 2,000 schools.
   
   - A  monthly  allowance  of  RM 500  on temporary  basis for
     10,000 Degree and Diploma holders to learn IT, Mathematics
     and languages. This will cost RM 150 million till end  of
     2002.
   
   - Allocation of RM 150 million for the training of retrenched 
     workers.
   
   - Improve the terms and access to financing under existing
     special funds for  small  and   medium-scale enterprises.
   
   - Intensified efforts to promote tourism. For this, RM
     110 million has been set aside.
   
   The   focus  of  the  package  is  to  generate  economic
   activities with the greatest spin-off effects as well  as
   ensure  a  fair  and wide distribution of benefits  to  a
   large   segment   of  the  population   including   small
   Bumiputera  contractors and those  dependent  on  welfare
   assistance.
   
   The  package size is RM 4.3 billion. In addition  to  the
   measures  mentioned above, other measures which are  part
   of  the package will be announced during the Budget on 19
   October, 2001.
   
   The   Government   has  also  taken  steps   to   enhance
   efficiency of project implementation. Measures have  been
   taken  to  speed  up payments to contractors  and  remove
   bureaucratic  delays.  Weekly  meetings  are  being  held
   between  the  relevant parties and Government authorities
   to enhance the Government's delivery system.
   
   With  the  implementation of this package, the Government
   is  confident  that the downside risks to  the  Malaysian
   economy can be minimized.

   Sumber : Pejabat Perdana Menteri
    




    
    

             
 


 









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