‘B40 in­come growth proof of stronger econ­omy’

New Straits Times - - Business -

KUALA LUMPUR: The growth in in­come of the bot­tom 40 per cent house­hold (B40) group is a re­flec­tion of a strength­en­ing econ­omy on the back of pru­den­tial poli­cies and mea­sures, said Min­is­ter in the Prime Min­is­ter’s Depart­ment Datuk Seri Ab­dul Rahman Dahlan.

“The growth of in­come in the B40 group is faster than the M40 and T20 in the coun­try and this is very good. The growth, I be­lieve, is at 12.9 per cent be­tween 2009 and 2014, and this tells you that our poli­cies are work­ing,” he told the me­dia on the sec­ond day of the Global Trans­for­ma­tion Fo­rum 2017 (GTF 2017), here, yes­ter­day.

These poli­cies, ac­cord­ing to the min­is­ter, en­com­passed the en­tire up­scal­ing of ecosys­tem from 1Malaysia Peo­ple’s Aid (BR1M) to train­ing, op­por­tu­ni­ties to be en­trepreneurs as well as eas­ier ac­cess to credit.

“At the mo­ment, 16.5 per cent of the coun­try’s gross na­tional in­come (GNI) come from the B40,” said Rahman in out­lin­ing the gov­ern­ment’s medium tar­get for the group.

“We want to in­crease that to 20 per cent by 2020.”

Rahman stressed that the B40 group is a pri­or­ity across all agen­cies.

“Since Prime Min­is­ter Datuk Seri Na­jib Razak took over in 2009, what­ever he has done is for the good of the B40.

“Each min­istry is very fo­cused on en­sur­ing the growth and em­pow­er­ment of the B40 and the gov­ern­ment has and will al­ways col­lec­tively work to­gether to­wards this com­mon ob­jec­tive,” he said.

Mean­while, International Trade and In­dus­try Min­is­ter Datuk Seri Mustapa Mo­hamed said that con­trary to pop­u­lar be­lief, the Trans-Pa­cific Part­ner­ship (TPP) agree­ment was not dead.

“The TPP is still an open ques­tion in terms of where the agree­ment is head­ing,” he said.

“Dis­cus­sions are on­go­ing — we had a meet­ing last week in Chile, and another is com­ing up in May in Viet­nam. We will con­tinue to ex­change views.”

He noted, how­ever, that the coun­try’s main mo­ti­va­tion to be a part of TPP was the ac­cess to the United States mar­ket.

“Malaysia is open to the TPP, but the main mo­ti­va­tion was ac­cess to US mar­ket. If US is not in the deal, it will have im­pact on the progress of the free trade agree­ment,” said Mustapa.

Both Mustapa and Rahman were panelists on the ses­sion on “Malaysia’s Trans­for­ma­tion: De­liv­er­ing on Gov­ern­ment Prom­ises” along­side Youth and Sports Min­is­ter Khairy Ja­malud­din Abu Bakar and chief sec­re­tary to the Gov­ern­ment of Malaysia Tan Sri Ali Hamsa.

The panel was mod­er­ated by World Bank coun­try man­ager for Malaysia Faris Hadad-Zer­vos. Lid­i­ana Rosli

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.