KUALA LUMPUR, Nov 20 — The country’s current challenging economic situation which has pushed the cost of living up, is due to external and not internal factors, says Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan.
He said the ruling political party and government would not take actions that would cause sufferings to the people as this would reduce public support for them.
“We understand that the government reacts according to its capacity in this uncertain economic climate due to the prevailing challenges.
“This situation has to be translated to reduced subsidies or restructuring of subsidies, and this is our response to the external factors.”
Abdul Rahman said this after speaking in the First Session: Economic Discussion at the Ummah Agenda Empowering Convention (KPAU) 2.0 which was chaired by Umno Supreme Council member, Datuk Dr Irmohizam Ibrahim, at the Putra World Trade Centre, here, today.
Earlier, during the question-and-answer part of the discussion, he said revenue collected from the Goods and Sevices Tax (GST) managed to save the country’s finances following the drop in the world market oil price since 2014.
The minister said the country’s revenue of about ERM40 billion from oil sale had declined by half following the fall in price.
“Imagine you lose half of your salary every month without prior notice or announcement. This is what has happened to the country’s oil revenue.
“The GST has saved us and our country’s history will commend our party leaders for daring to create the GST,” he said.
The convention will fine-tune the resolutions for the upcoming Umno General Assembly from the 691 already discussed and agreed upon at various levels of the party before this.
All the resolutions will then be channelled to the resolution cluster for debate at the General Assembly. — Bernama