Minister of Transport, Dato' Sri Liow Tiong Lai has highlighted two (2) main points in the government's #Budget2017 which demonstrates the government committment and effort in ensuring the sustainable growth of our nation’s economy while prioritising the welfare of Malaysians from all walks of life. The two (2) main points highlighted by Dato' Sri Liow Tiong Lai is 1) pioritizes welfare of rakyat and 2) Improves Competitive Advantage for SMEs.
Most notable is the commitment from the government to allocate RM 10 Billion for subsidies which includes public transport. It has been made known by the rakyat, especially in urban centers that a reduction or even a maintain of public transportation fares would be very much appreciate by the public. Taking this into consideration, the RM 10 billion worth of subsidies included the public transportation sector.
In our opinion at #KLChronicle, the transportation sector, under the leadership of Dato' Sri Liow Tiong Lai has a significant effort to play in realizing the aspiration of #Budget2017. If we look into detail, the government has confirmed allocation of nearly RM 55 Billion ringgit for the East Cost Rail Line (ECRL). This task in executing the ECRL will definitely be under the Ministry of Transport (MOT).
In a nutshell, this shows the trust that the Prime Minister has in Dato' Sri Liow Tiong Lai's leadership and capability that the MOT will play a pivotal role in ensuring the success of ECRL, the country next major project after the High Speed Rail (HSR) project, which incidentally is also under the MOT. Looking at all this, land public transportation is the cornerstone of the Barisan Nasional government and MOT under Dato' Sri Liow Tiong Lai will be the driver of these projects.
We at #KLChronicle trust that Yang Berhormat Menteri and his team will execute the "amanah" that is given to him with utmost professionalism to ensure that the rakyat's aspiration is being met.
BY YB DATO’ SRI LIOW TIONG LAI
MINISTER OF TRANSPORT
Liow: Budget Prioritises Welfare of Rakyat
Improves Competitive Advantage for SMEs
Budget 2017 tabled by Prime Minister YAB Dato’ Sri Mohd. Najib Bin Tun Haji Abdul Razak demonstrates the Government’s steadfast commitment to ensuring the sustainable growth of our nation’s economy while prioritising the welfare of Malaysians from all walks of life.
Forming the backbone of Malaysia’s economy, small and medium-sized enterprises (SMEs) contribute substantially to the growth of our nation. The Barisan Nasional Government is cognisant of the importance of providing SMEs with much needed impetus resulting in income tax incentives. The new tax scheme for the 2017 and 2018 assessment year sees a one percentage point reduction for an increase in chargeable income between 5% to below 10%, a two percentage point reduction for an increase in chargeable income between 10% to below 15%, a three percentage point decrease for an increment in chargeable income between 15% to below 20% as well as a four percentage point decrease for a 20% growth in chargeable income.
With Malaysia preparing to move into the next level of its growth trajectory, the Government has rightly increased allocations and incentives for the transportation sector. For 2017, RM4.48 billion has been allocated for operations and development.
As the Government introduces economic accelerators, we are also conscious of the need to address the demand for increased services that comes with it, particularly in terms of public transportation. The Barisan Nasional Government’s goal is to create a healthy public transport ecosystem that makes transportations more efficient for all Malaysians as well as visitors to Malaysia. On this score, RM10 billion has been put aside for subsidy allocation which includes public transport. The Government also reiterated its commitment to upgrading public transport in rural areas in the 2017 Budget.
Given international headwinds and uncertainty, the Government is mindful of the need to protect the interests of Malaysians, as such, measures such as incentives for the M40 and B40 households will ensure that all Malaysians are able to benefit from Malaysia’s economic growth.