Experts have confidence in PH govt
KUALA LUMPUR: Despite delays in fulfilling its promises, economists have confidence in the Pakatan Harapan administration led by Prime Minister Tun Dr Mahathir Mohamad, who aims for a corruption-free and economically vibrant Malaysia.
As yesterday marked the first 100 days of PH ruling after winning the 14th General Election (GE14), they said the time frame was too short to fulfil all the election pledges, see changes and bring about reforms.
They believed the PH government should plan for the country’s future and not only focus on its pledges.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said it would be unrealistic to expect immediate changes due to economic uncertainties brought by external factors.
“The economy is open to global conditions and, at the moment, risk aversion has become more apparent.
“This may impact markets, business sentiment and demand.
“The PH government needs to work around constraints such as the fiscal position and challenging economic prospects.
“The zero-rated Goods and Services Tax (GST) and the reintroduction of the Sales and Services Tax (SST) next month suggest that the government is committed to fulfilling its election promises.”
He said the move to stabilise fuel prices had helped the people cushion the impact of the rising cost of living.
“This is not easy, especially when dealing with credit rating agencies, and the risk of sovereign rating downgrade is something that the government needs to acknowledge.
“So, we can see that the government is being pragmatic in implementing its pledges.”
Malaysian Institute of Economic Research executive director Emeritus Professor Dr Zakariah Abdul Rashid said the price control on RON95 (RM2.20 a litre), RON97 (RM2.65) and diesel (RM2.18) would reduce the burden of fuel expenditure.
Two months before GE14, PH had unveiled its 60-point election manifesto that set out its policies, which were divided into two categories — the first covering 10 promises within PH’s first 100 days in government and the second covering the remaining pledges to be fulfilled in stages within the next five years.
Dr Mahathir recently gave the assurance that the government was committed to fulfilling its election promises.
He said the government’s focus was not just on implementing the pledges, but also improving the administration.