PUTRAJAYA, May 31 — The government is compelled to implement some of the 100-day promises in order to ensure that the RM1 trillion national debt can be contained, if not reduced, said Finance Minister Lim Guan Eng.
He said the promises included the targeted petrol subsidies for cars below 1,300 cc and motorcycles below 125cc, the Employees Provident Fund contribution scheme for housewives, the increase in minimum wage, and the deferment of the National Higher Education Fund Corporation loan repayment until the RM4,000 monthly income threshold.
The “Skim Peduli Sihat” will only be implemented when the financial situation improved, he added.
“As much as we would like to implement all of the 100-day promises, this federal government is fiscally responsible and would not follow the previous government’s example of fiscal imprudence which would almost certainly have led the nation on a path to bankruptcy.
“The federal government continues to be committed to implement its manifesto promises when the financial situation permits,” he told press conference here today.
Lim said the Ministry of Finance was focused on the government’s fiscal measures, especially on financial steps to be implemented to ensure the government’s financial position remained robust.
He said the measures included reducing the RM1 trillion national debt caused in part by financial scandals such as the 1Malaysia Development Bhd quagmire and to ensure that the budget deficit remained manageable.
The federal government would also ensure that the current balance is not in deficit, he added.
“That (debt) is the critical component,” he said. — Bernama
