11MP mid-term review to focus on income disparity, unemployment

KUALA LUMPUR: The government is preparing the mid-term review of the 11th Malaysia Plan (11MP), focusing on income disparity and unemployment, among others.

Economic Affairs Minister Datuk Seri Azmin Ali said it would be tabled on October 18.

“Issues and development challenges will be identified and steps to tackle them will be proposed. Progressive socio-economic policies will be introduced to complement institutional reforms.

“While the macroeconomic indicators exhibit strong performance on the back of robust gross domestic product growth, stable and low inflation as well as full-employment, the situation behind the headline indicators tells a different story,” he said at the launch of the World Bank’s 18th edition of the Malaysia Economic Monitor, here, yesterday.

As such, the mid-term review will seek to address the disparity of growth across the states and income inequalities, high youth unemployment and the rising cost of living.

Azmin said one key focus was to bring back foreign investors that might have been spooked by the RM1 trillion debt amassed by the previous government.

“We want to retain Malaysia’s position as an investment destination, so it is crucial for us to restore the confidence of the investors.

“These are the areas that we need to discuss and debate in Parliament.”

Azmin said the government would also move towards hightechnology and capital-intensive industries.

He said the ministry had been in discussions with Prime Minister Tun Dr Mahathir Mohamad and the Council of Eminent Persons to identify personalities with the highest integrity, knowledge and credibility to lead government-linked companies.

This was in light of top management shake-ups in the past few weeks.