KUALA LUMPUR: As part of its efforts to improve the annual budget preparation process, the Ministry of Finance (MOF) has agreed to publish four public consultation papers (PCPs) and invite the public to share their ideas for Budget 2022, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said.
He said the PCPs are set to complement the Pre-Budget Statement issued recently.
"For a start, four public consultation papers will be published to obtain inputs towards Budget 2022," he told a press conference here today.
The four PCPs are Improvement of the Government Procurement Policy on Local and Goods/Services and Procurement Policy for the Bumiputera, Improvement of Cash Assistance Programmes, Review of Tax Incentives, and Drafting of the Fiscal Responsibility Act (FRA).
The first paper outlines proposals to improve the use of local goods/services and the affirmative policy for Bumiputera companies.
"This is aimed at, among others, protecting and developing local industries as well as reducing dependency on imported goods," he said.
Tengku Zafrul said Improvement of Cash Assistance Programmes aims to identify the needs of the rakyat as well as current gaps and issues in delivering assistance to them, especially in light of the challenges posed by the pandemic.
On Review of Tax Incentives, he said it provides a review on the overall investment tax incentive framework to ensure that incentives for investors remain relevant in the current business landscape.
"The review is also intended to enhance the country's overall competitiveness in attracting quality investments, which in turn would generate economic growth, support job creation and strengthen the country's fiscal position," the finance minister said.
Meanwhile, Drafting of the FRA aims to improve governance, transparency and accountability of the country's fiscal management, including the management of revenue, expenditure, debt and fiscal risks as well as the publication of pre-budget and post-budget reports, economic forecasts and the Medium-Term Fiscal Framework.
"MOF is confident that this inaugural publication of the PCPs will provide more avenues for all stakeholders to provide feedback and contribute towards formulating a budget that is well-aligned to the needs of the rakyat, as well as the country's policies and objectives," he said.
Queries or requests for additional information can be submitted via email to: [email protected]. The PCPs can be downloaded from and feedback submitted to www.mof.gov.my latest by 5.00 pm on Sept 15, 2021.
-- BERNAMA
Bernama
Fri Sep 03 2021
MOF has agreed to publish four public consultation papers (PCPs) and invite the public to share their ideas for Budget 2022. belanjawan2020.treasury.gov.my
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.
PDRM to consult AGC in completing Teoh Beng Hock investigation
The police may seek new testimony from existing witnesses for additional insights into the investigation of Teoh Beng Hock's death.
Thai court rejects petition over ex-PM Thaksin's political influence
Thailand's Constitutional Court rejects a petition seeking to stop Thaksin Shinawatra from interfering in the running the Pheu Thai party.
Abidin takes oath of office as Sungai Bakap assemblyman
The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in today at the State Assembly building, Lebuh Light.
UPNM cadet officer charged with injuring junior, stomping on him with spike boots
A cadet officer at UPNM pleaded not guilty to a charge of injuring his junior by stomping on the victim's stomach with spike boots.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies' market value.
Elon Musk blasts Australia's planned ban on social media for children
Several countries have already vowed to curb social media use by children through legislation, but Australia's policy could become one of the most stringent.
Trump picks Pam Bondi for US Attorney General after Gaetz withdraws
Bondi was the top law enforcement officer of the country's third most populous state from 2011 to 2019, and served on Trump's Opioid and Drug Abuse Commission during his first administration.
Ringgit extends uptrend against greenback in early trade
At 8 am, the local currency climbed to 4.4600/4700 against the greenback.