Home / Business / Mustapa: More than half of 12MP allocation of RM400b for development

Mustapa: More than half of 12MP allocation of RM400b for development

KUALA LUMPUR: More than half of the RM400 billion allocation under the 12th Malaysia Plan (12MP) will go to basic development expenditure, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

Basic development expenditure includes conventional, social, and economic infrastructures.

“There is also a portion for the rehabilitation of government agencies such as Lembaga Tabung Haji (LTH) and the Federal Land Development Authority (FELDA) as well as the public-private finance initiative projects,” he said on BFM Radio’s Breakfast Grille programme today.

Prime Minister Datuk Seri Ismail Sabri Yaakob last Monday tabled the 12MP with a RM400 billion allocation for new and existing projects; it is the country’s biggest five-year road map – 54 per cent bigger than the 11MP unveiled in 2016 that had set aside RM260 billion.

The new plan, which has been delayed by more than a year due to the COVID-19 crisis, aims to turn Malaysia into a high-income economy by 2025, eradicate abject poverty and increase the contribution of small businesses to the total economic output.

On the problems faced by Lembaga Tabung Haji (LTH) and Felda, Mustapa said the issues related to them cannot be resolved over the course of one year.

He said about RM2 billion has been disbursed from Felda’s government-guaranteed sukuk valued at RM9.9 billion.

Under the rehabilitation plan, the hibah on the sukuk would be paid by Felda, while the principal amount would be borne by the government.

“Resolved means there is a solution. In the case of LTH and Felda, it is going to take 10 years altogether as it involves a big amount,” he said. – Bernama



Source link

Check Also

Football: Soccer-Pioli tells Milan to cut out errors in decisive games against Porto


(Reuters) - AC Milan must eliminate individual errors and improve their concentration to get their Champions League campaign back on track in two decisive games against Porto, coach Stefano Pioli said on Monday.

The seven-time European champions suffered defeats by Liverpool and Atletico Madrid in their opening two games, leaving them bottom of Group B.

“A lot is missing before we are great again, but we are on the right road. There are still a lot of steps to take, like the one tomorrow. The team wants to finally get a positive result in the Champions League,” Pioli told a news conference.

“We have to keep clear heads and stay focused for the whole game. In the first two matches we paid dearly for each mistake.

"We must have total focus when we have the ball and in the defensive phase. We lost the first two games b

Prize-winning female Spanish novelist exposed as three male screenwriters



The Spanish literary world was rocked recently by the revelation that one of the country's most celebrated female novelists, Carmen Mola, was in fact a work of fiction. Her books are the work of three male screenwriters: Jorge Diaz, Agustin Martinez and Antonio Mercero.

Mola was believed to be a professor in her 40s who wrote violent crime thrillers between classes. Hanska Literary and Film Agency, which represents Mola, features a photograph of a woman facing away from the camera on her author profile page.

The ruse was revealed last Friday night during a prize-giving ceremony for Spain's most prestigious literary award, the Premio Planeta de Novela, where Mola was announced as the winner of the 2021 prize. Gasps were heard across the auditorium as the mys

Leave a Reply