Malaysia's 2022 basic development expenditure performance at 18.33 pct as of April 15 - PM

He said this was announced at the first meeting of the 12th Malaysia Plan (12MP) Highest Monitoring Committee which he chaired today and was also attended virtually by four Senior Ministers as well as heads of departments and agencies involved.

To address the key challenges in the distribution of DE, he said the government had also established the National Development Project Implementation Facilitation Committee (JP4N).

"The meeting also agreed that the secretary-general of all ministries report the DE performance status to their respective ministers every month so that immediate action can be taken to speed up project implementation," he said in a statement today.

He said in line with the country's target to achieve high-income status by 2025, today's meeting also approved a framework to monitor the performance of several indicators to achieve the target.

Ismail Sabri said the indicators encompassed three components, namely prosperity, inclusivity and sustainability.

These included economic growth and increased household income; increased competitiveness and productivity; increased contribution of high-impact industries to the economy; eradication of hardcore poverty and balanced state development as well as environmental sustainability and resilience.

Apart from that, Ismail Sabri said the meeting also discussed the government's strategy in eradicating the hardcore poor by 2025 as Phase One of the Malaysian Family Hardcore Poor Eradication Programme (BMTKM) had started this month involving 80 localities and about 5,000 heads of households (KIR).

In total, he said 1,000 localities would be selected for the implementation of BMTKM until the end of 2025.

"The implementation of BMTKM uses a new approach that is more holistic, integrated and focused by emphasising on income generation activities among the hardcore poor KIR in a sustainable manner," he said.

The Prime Minister said the meeting was also informed about the RM15 billion Flood Mitigation Project planning for a period of eight years starting next year until 2030.

"The method of financing these projects is being detailed by the Ministry of Finance. This holistic planning covers short-, medium- and long-term projects," he said.