Latest news with #CentralDatabaseHub
The Sun
a day ago
- Business
- The Sun
Targeted SST expansion to curb price cascading effect, says Amir Hamzah
KUALA LUMPUR: The expansion of the Sales and Service Tax (SST) scope is designed to minimise the cascading effect on goods prices by focusing on specific items rather than imposing a blanket increase, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He emphasised that daily necessities remain unaffected, ensuring public affordability. Amir Hamzah highlighted the government's careful approach, referencing the March 2023 SST rate adjustment from six to eight per cent, which had no significant inflationary impact. 'Malaysia's inflation stood at 2.0 per cent last year, proving our measures are manageable,' he said during the *Keluar Sekejap* podcast hosted by Khairy Jamaluddin and Shahril Hamdan. The minister defended the targeted expansion, stating it allows the government to assist vulnerable groups effectively. 'Selective implementation ensures relief reaches the right segments,' he said, citing the Sumbangan Asas Rahmah (SARA) programme's expansion from 700,000 to 5.4 million recipients as proof of redistributive benefits. On RON95 subsidy rationalisation, Amir Hamzah confirmed discussions are ongoing, with the Central Database Hub (PADU) likely to determine eligibility thresholds. 'A higher initial cut-off line is probable, with details to be finalised by Cabinet,' he added, expecting implementation before year-end. - Bernama
Borneo Post
2 days ago
- Business
- Borneo Post
SUPP Youth chief calls for clear plan before RON95 subsidy rationalisation
Lau says that although the government is confident in implementing the policy in the second half of the year, the lack of details remains a major concern. SIBU (July 2): Sarawak United People's Party (SUPP) Youth chief Councillor Kevin Lau has urged the federal government to finalise a concrete, comprehensive, and well-prepared plan before implementing the RON95 petrol subsidy rationalisation. He stressed that the details must be clearly communicated prior to its rollout to avoid unnecessary confusion and burden among the public. Responding to comments by Finance Minister II Datuk Seri Amir Hamzah Azizan , Lau said that although the government is confident in implementing the policy in the second half of the year, the lack of details remains a major concern. Apart from the announcement that the MyKad identification system will be used for subsidy distribution, no further information has been released. 'Who exactly will be affected? Will it be the B40, M40, T20 or other related groups? If the government plans to classify the subsidy based on income groups, then clear criterion must be shared with the public,' he said. Lau also questioned whether the government has effectively utilised data collection through previous initiatives such as the Central Database Hub (Padu) system and its proposed integration with Digital Education Policy and Madani Subsidy Assistance (Budi Madani). 'Previously, the government made an aggressive push for data collection via Padu, saying it would be integrated with Budi Madani. Has this data actually been utilised to support subsidy implementation? 'If not properly implemented, the policy could end up placing burden on the people.' Lau, who is SUPP Bawang Assan chairman, also mentioned that the people are still adapting to the newly implemented e-invoicing policy and the expansion of scope for Sales and Services Tax (SST). He stressed that the people should be given some breathing space, and introducing the subsidy rationalisation in the second half of the year could further burden the public. He also questioned whether the government could guarantee that the subsidy rationalisation would benefit all intended target groups. 'Prime Minister Datuk Seri Anwar Ibrahim emphasised that RON95 subsidy rationalisation will not affect low-income groups. 'But what about the middle-income group? How will they be addressed? All groups are facing economic pressures – are they not going to be affected too?' He noted that the vast majority of road users rely on RON95 petrol, making it a necessity for most people. He said although the previous targeted diesel subsidy policy did not include East Malaysia, there were still indirect effects, particularly with increased logistics and transportation costs. 'Additionally, sectors such as taxi drivers, e-hailing drivers, and food delivery riders will also be impacted by changes in the RON95 petrol policy. 'In Sarawak, transportation costs already make the cost of living higher than in Peninsular Malaysia. Coupled with the rising prices of goods, people are facing significantly more economic pressure,' he added. Kevin Lau petrol subsidy rationalisation RON95 SUPP
The Sun
28-05-2025
- Business
- The Sun
Rafizi's tenure defined by bold moves to improve people's livelihoods
KUALA LUMPUR: Datuk Seri Rafizi Ramli, who became the economy minister in December 2022, part of Prime Minister Datuk Seri Anwar Ibrahim's Cabinet, is known for a myriad of initiatives to improve people's livelihoods. Foremost among his initiatives was the proposal to set up the Johor-Singapore Special Economic Zone (JS-SEZ). He proposed the ambitious idea in May 2023 during a meeting with the Johor state government. Rafizi emphasised that a special economic zone could further boost business ecosystems and provide greater opportunities by tapping into the strengths of both regions. This is already paying dividends; in just two years, the JS-SEZ has emerged as an investment destination, attracting international companies and facilitating the establishment of data centres. In addition, he launched the People's Income Initiative, better known as Inisiatif Pendapatan Rakyat (IPR), in February 2023, aimed at increasing the income of the poorest households and the B40 group. Rafizi, who hails from Besut, Terengganu, also advocated for the classification of the T15 income group, which is set to replace the previous B40, M40 and T20 categories. The initiative was part of national planning and budgeting, especially under development and economic plans such as the 11th Malaysia Plan and the Shared Prosperity Vision 2030. The minister also heavily invested his time and effort in the development and implementation of the Central Database Hub (Padu). This was a data repository for all individuals and households comprising citizens and permanent residents in Malaysia, aimed at improving policy planning and data-driven programme implementation. However, the project came under criticism amid concerns that the public was compelled to register and disclose their financial and personal details. Rafizi was also involved in the implementation of the Bumiputera Economic Transformation Plan 2035 (PuTERA35), as part of the government's strategy to advance Bumiputera development towards making Malaysia a leading regional economy. Before becoming a minister, the former chartered accountant served at Petronas from 2005 to 2009 as a Senior Manager in Business Planning, Operations and Petrochemical Transaction Technology, and later in Accounting, Budgeting and Taxation. He also held the position of General Manager at Pharmaniaga. Rafizi also led the Selangor Economic Advisory Office as chief executive. A former student of Malay College Kuala Kangsar, he also founded INVOKE Malaysia in 2016 — a non-profit organisation focused on political, economic, and social issues — which later evolved into a commercial tech venture. Rafizi has submitted his resignation letter to the prime minister and will be using up the remainder of his annual leave until June 16, 2025. The resignation will take effect the next day. 'As is the practice in countries that uphold democratic principles, leaders who lose in party elections should make way for those who have won to take their place in government,' said Rafizi in a statement on Wednesday. Recently, Rafizi, who held the position of PKR deputy president, lost the party election to Anwar's daughter, Nurul Izzah Anwar.
The Sun
28-05-2025
- Business
- The Sun
Rafizi Ramli resigns as Economy Minister
KUALA LUMPUR: Datuk Seri Rafizi Ramli, who became the economy minister in December 2022, part of Prime Minister Datuk Seri Anwar Ibrahim's Cabinet, is known for a myriad of initiatives to improve people's livelihoods. Foremost among his initiatives was the proposal to set up the Johor-Singapore Special Economic Zone (JS-SEZ). He proposed the ambitious idea in May 2023 during a meeting with the Johor state government. Rafizi emphasised that a special economic zone could further boost business ecosystems and provide greater opportunities by tapping into the strengths of both regions. This is already paying dividends; in just two years, the JS-SEZ has emerged as an investment destination, attracting international companies and facilitating the establishment of data centres. In addition, he launched the People's Income Initiative, better known as Inisiatif Pendapatan Rakyat (IPR), in February 2023, aimed at increasing the income of the poorest households and the B40 group. Rafizi, who hails from Besut, Terengganu, also advocated for the classification of the T15 income group, which is set to replace the previous B40, M40 and T20 categories. The initiative was part of national planning and budgeting, especially under development and economic plans such as the 11th Malaysia Plan and the Shared Prosperity Vision 2030. The minister also heavily invested his time and effort in the development and implementation of the Central Database Hub (Padu). This was a data repository for all individuals and households comprising citizens and permanent residents in Malaysia, aimed at improving policy planning and data-driven programme implementation. However, the project came under criticism amid concerns that the public was compelled to register and disclose their financial and personal details. Rafizi was also involved in the implementation of the Bumiputera Economic Transformation Plan 2035 (PuTERA35), as part of the government's strategy to advance Bumiputera development towards making Malaysia a leading regional economy. Before becoming a minister, the former chartered accountant served at Petronas from 2005 to 2009 as a Senior Manager in Business Planning, Operations and Petrochemical Transaction Technology, and later in Accounting, Budgeting and Taxation. He also held the position of General Manager at Pharmaniaga. Rafizi also led the Selangor Economic Advisory Office as chief executive. A former student of Malay College Kuala Kangsar, he also founded INVOKE Malaysia in 2016 — a non-profit organisation focused on political, economic, and social issues — which later evolved into a commercial tech venture. Rafizi has submitted his resignation letter to the prime minister and will be using up the remainder of his annual leave until June 16, 2025. The resignation will take effect the next day. 'As is the practice in countries that uphold democratic principles, leaders who lose in party elections should make way for those who have won to take their place in government,' said Rafizi in a statement on Wednesday. Recently, Rafizi, who held the position of PKR deputy president, lost the party election to Anwar's daughter, Nurul Izzah Anwar. Following this, questions were raised regarding Rafizi's position in the Cabinet.
Sinar Daily
24-05-2025
- Business
- Sinar Daily
Global economic headwinds could halt RON95 subsidy plan
Padu challenges could force reliance on LHDN, EPF for RON95 subsidy. Malaysia University of Science and Technology (MUST) economics expert Professor Emeritus Dr Barjoyai Bardai stated that implementing targeted subsidies in the near term would be impossible. SHAH ALAM – The government's proposed RON95 fuel subsidy rationalisation, initially slated for mid-year, may be delayed until the trade negotiations between the United States and China are fully resolved. Malaysia University of Science and Technology (MUST) economics expert Professor Emeritus Dr Barjoyai Bardai stated that implementing targeted subsidies in the near term would be impossible. "I foresee the possibility of the government postponing the implementation of RON95 fuel subsidy rationalisation if the global economic situation becomes suddenly serious after the next 90 days. 'If the US proceeds with its previously announced plans regarding new tariff rates and if the whole world is hit by an economic downturn, we'll see price hikes, a crash in our stock market, the ringgit depreciating. "If that happens, the government will be forced to delay the plan. "However, I believe the plan will still be pursued, especially following the positive outcomes seen after the diesel subsidy rationalisation," he told Sinar. It was reported on Monday that the Cabinet has handed the decision regarding the RON95 fuel subsidy rationalisation proposal entirely to the Finance Ministry (MoF). Economy Minister Datuk Seri Rafizi Ramli confirmed his ministry had discussed the matter with the Cabinet four times and is now awaiting updates from the ministry led by Prime Minister Datuk Seri Anwar Ibrahim. When asked if the Central Database Hub (Padu) application system would still be part of the rationalisation plan given the change in the managing ministry, Barjoyai suggested it might not utilise data from the new system. He based this view on the low number of Malaysians currently registered in Padu, which makes comprehensive data collection challenging. 'I don't think Padu can be used yet, because only around eight million people have filled in their information. There are still about 20 million who haven't. If the government proceeds with this targeted subsidy plan, they may have to rely on third-party data sources like the Inland Revenue Board (LHDN) and the Employees Provident Fund (EPF),' he said. On the appropriate timing for implementing the subsidy targeting, Barjoyai believes it can still be done this year, given the positive developments observed after the diesel initiative. 'There's no denying that many were sceptical when the diesel subsidy rationalisation was implemented, but now a lot of people are praising the government's move. The economy is really a study of perception. If we can manage perception well, God willing, it will have a positive impact too,' he added.
