Finance ministry in process of completing draft for 2014 Budget

The Finance Ministry is now in the process of completing the draft for 2014 Budget after receiving some 100 memorandums for consideration from various parties throughout 2014 Budget Consultation Council sessions since June this year.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the consultation sessions were held in the peninsula, Sarawak and Sabah, and after the third session in Kota Kinabalu on Aug 22, the process of completing the draft for 2014 Budget was now in the last phase.

"The draft is expected to be completed in the middle of September for scrutiny and finalised before being tabled by Prime Minister Datuk Seri Najib Tun Razak next October.

"Out of the 15 focus groups involved in 2014 Budget, there are a few groups that are not finished. One of them is related to the Well-Being Index and this matter is now being implemented," he said.

He said this to reporters after launching the Ministry of Finance Open Day 2013 at the Royal Malaysian Customs Academy Sarawak, here on Thursday.

Also present were Sarawak Federal Secretary, Datuk Md Yahya Basimin; Sarawak State Secretary, Tan Sri Mohamad Morshidi Abdul Ghani; and Sarawak Federal Financial Officer, Datuk Jabidah Monseri.

Meanwhile, when asked on the implementation of the Goods and Services Tax (GST), Ahmad Husni said the issue need not necessarily be announced during the tabling of 2014 Budget.

"We are still studying its effects on the economy. We want to ensure, if there is increase in prices, how high the increase would be and how it might affect the rakyat, as in the end, priority is given to the well-being of the rakyat," he said.