Hua Zong hopes for more China-friendly poli­cies in Bud­get


HUA Zong (Fed­er­a­tion of Chi­nese As­so­ci­a­tions of Malaysia) pres­i­dent Tan Sri Pheng Yin Huah hopes the gov­ern­ment will adopt more “Chi­nafriendly” poli­cies in the 2017 Bud­get and strengthen the strate­gic part­ner­ship to at­tract more in­vest­ment from the su­per­power.

He said the gov­ern­ment should roll out new poli­cies in line with its de­ci­sion to join China’s One Belt, One Road ini­tia­tive and the sign­ing of the Tran­sPa­cific Part­ner­ship Agree­ment, Sin Chew Daily re­ported yes­ter­day.

He noted that the gov­ern­ment has pro­vided tax breaks to Chi­nese firms in­volved in some mega projects in Malaysia and said sim­i­lar tax breaks should be given to Chi­nese firms in­volved in the property sec­tor.

Pheng said this on Satur­day when asked by the daily for his bud­get wish list.

He said given the cur­rent chal­leng­ing times, what the peo­ple dread to hear most in the bud­get speech are tax in­creases.

“Although the gov­ern­ment has made it clear it will not raise the goods and ser­vices tax (GST), we hope to see a re­view of the list of zero-rated items to in­clude elec­tric­ity con­sump­tion, per­sonal in­sur­ance and health­care.”

Nev­er­the­less, Pheng did not fore­see a lot of good­ies in the 2017 Bud­get, which will be pre­sented by Prime Min­is­ter Datuk Seri Na­jib Ab­dul Razak, who is also fi­nance min­is­ter, on Oct 21.

He said he be­lieved it will be a “bal­anced bud­get” which will not be too painful on the peo­ple, par­tic­u­larly those in the lower mid­dle-in­come and lower in­come brack­ets, whose wel­fare will con­tinue to be given pri­or­ity by the gov­ern­ment.

He re­it­er­ated Hua Zong’s call for the gov­ern­ment to pro­vide ad­e­quate al­lo­ca­tions for ed­u­ca­tion, in­clud­ing ac­cord­ing fair amounts for the devel­op­ment of Chi­nese schools.

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