11MP initiatives are high-impact, low-cost: CIMB

CIMB Group Holdings Bhd (CIMB) says it is encouraged that the Eleventh Malaysia Plan (11MP) initiatives were selected by identifying those that deliver high impact with low cost and can be most rapidly implemented.

"We view this as a responsible move as it clearly shows that the government is being prudent and extracting the maximum benefit from each ringgit it spends.

"It will also be a positive for the fiscal balance sheet in looking for initiatives with maximum impact for the lowest cost," Chief Executive Officer Tengku Datuk Zafrul Tengku Abdul Aziz said in a statement today.

Tengku Zafrul said for the first time, national growth targets will include household income and the Malaysian Wellbeing Index, on top of Gross Domestic Product growth and per capita income.

“This is definitely a more holistic approach to development and paying attention to income inequality, affordable housing and cost of living among others that would lead to sustainable growth,” he added.