Don’t compare Budget with previous ones, says expert
KUALA LUMPUR: The 2019 Budget should not be compared with previous budgets as the new government took over only about six months ago, said Allianz General Insurance (M) Bhd chief executive officer Zakri Khir.
“We know how difficult it is to do a turnaround. There is only so much you can do in such a short time.
“A budget is a budget. A lot of initiatives were announced by the Finance Ministry, but the real test for the government is how well it can execute what is promised and to have the discipline to not have overruns.”
Public Bank Bhd founder and chairman Tan Sri Dr Teh Hong Piow said the bank applauded the unprecedented institutional reform initiatives proposed in the Budget, such as the Fiscal Responsibility Act, Government Procurement Act and zero-based budgeting.
“Despite the economic and fiscal challenges, the 2019 Budget has been crafted with wholesome and inspiring approaches to enhance the wellbeing of the people and promote the entrepreneurial culture among businesses for Malaysia to rise again as the ‘Tiger of Asia’.”
In promoting housing for all, Teh said Public Bank would explore its role in participating in the mechanism to continue supporting firsttime homebuyers.
Supermax Group founder Datuk Seri Stanley Thai Kim Sim said the Budget was businessfriendly.
“The ‘Tiger of Asia’ is in the making and it has been awaken. The wounded ‘Tiger’ is on the road to economic recovery.”
He said the big allocation for education would improve its quality.
“As a captain of the industry, we require more Malaysians to be trained and ready for the job market. More engineers, as well as robotics and mechatronics engineers, are required for the country and industry to implement automated manufacturing and Industry 4.0 initiatives.”