‘Hope Fund people’s desire to help govt’
KUALA LUMPUR: Tabung Harapan Malaysia (THM) or Hope Fund is a manifestation of the people to assist the government in tackling the national debt, the Finance Ministry said.
In a question and answer session at the Dewan Rakyat yesterday, Deputy Finance Minister Datuk Amiruddin Hamzah told Fong Kui Lun ( PH-Bukit Bintang) that THM was created as a result of the awareness and concern of Malaysians over the issue of national debt and to donate funds according to their ability to assist the government.
“A citizen came to the prime minister’s office with RM100 and said it was his contribution to ensure that the national debt could be reduced,” Amiruddin said.
He said after that, many quarters had voluntarily collected donations and given them to the government.
“To ensure that no parties take advantage of the people’s attitude and patriotism, the Cabinet via a memorandum has agreed to establish THM,” Amiruddin said.
He said the donations and
A citizen came to the prime minister’s office with RM100 and said it was his contribution to ensure that the national debt could be reduced. To ensure that no parties take advantage of the people’s attitude and patriotism, the Cabinet via a memorandum has agreed to establish THM.
Datuk Amiruddin Hamzah, Deputy Finance Minister
contributions were systematically and transparently managed in accordance with the laws of the country.
The Cabinet meeting on May 30, 2018 agreed to set up THM under Section 9 of the Financial Procedure Act 1957 (Act 61), he said.
“As of July 24, 2018 at 3.00 pm, THM had collected RM161,896,353.60.
“The donors and contributors to this fund comprise individuals and companies from various races within and outside the country,” he said.
The number of donors was 289,002 and the number of online transactions recorded since the establishment ( of THM) until July 23 was 189,087 while the breakdown in May was 99,604 transactions, 80,482 (June) and 9,001 (July).
All donations and contributions received by THM were used to pay federal government debts, Amiruddin said.
However, he reminded that THM would not be able to successfully settle all previous federal government’s debt.
On a different issue, he also told Datuk Ahmad Maslan ( BNPontian) that the abolition of the Goods and Services Tax (GST) was not an act based on popularity but a measure to reduce the people’s burden.
“This is not an attitude to be popular but to ensure that the grumblings of the people that they are hard-pressed due to the GST is addressed.
“So the government has fulfilled its pledge as in the manifesto, (including) zero GST and will introduce the sales and services tax ( SST) after this which will not result in the people being hit badly like the GST,” Amiruddin said.
“As far as I know, there are no new debts except the figures which were left to us to ensure that it can be resolved properly and not affect the allocations given for education, health and others,” Amiruddin said.