Economy in dire straits, Ku Li asks GST to be put on hold

Gua Musang MP, Tengku Razaleigh Hamzah has suggested that the proposed Goods and Services Tax (GST) to be put on hold as the country’s economy and finances are in dire straits.

Debating the Royal Address at the Parliament today, Tengku Razaleigh or fondly known as Ku Li said GST will turn out to be an additional burden to the people.

“The people are already burdened with high household debts. This is why I suggest we defer the implementation of GST,” he said.

“The people have the rights to know if the GST to be implemented in April will benefit the country or is it only to pay interests to lenders and bondholders,” he said in his speech.

The former Semangat 46 party president had on Oct 30, last year, in a letter to all MPs called on the government to defer the implementation of the new tax regime.

“The purpose of the GST implementation should not be made a secret,” he said.

Ku Li, the longest-serving MP also raised his concern over the use of the Employee Provident Fund (EPF) to help financial institutions which are involved in providing financial assistance to certain bodies.

“The Prime Minister and Finance Minister should never be in a situation where there will be a conflict of interest,” he said.