Latest news with #RM86bil
The Star
a day ago
- Business
- The Star
RM492bil spent on reform agendas under Budget 2025
KUALA LUMPUR: A total of RM492bil has been allocated for reform agendas under Budget 2025 by the government, the Dewan Rakyat was told. The Communications Ministry said this consists of management expenditure amounting to RM335bil, development expenditure of RM86bil, non-fiscal government allocation of RM69bil and contingency savings of RM2bil. "The government also prepares various initiatives to complement public needs by reducing the cost of living, strengthening farmers and fishermen, stimulating the economy, encouraging entrepreneurship, uplifting the quality of life of the public and also improving dilapidated schools and clinics," it said in a Parliamentary written reply dated Aug 20. The Communications Ministry said it is always trying to improve the country's competitiveness, reduce bureaucracy, reform government administration and implement institutional reforms through bills, studies and strategic initiatives. "The establishment of the Special Task Agency on Reforms (Star) is the government's effort to improve the quality and efficiency of the public service," it said. It said the main focus of Star is to drive reforms and reduce bureaucracy, as well as review archaic rules. "Star also collaborates with various parties to improve national productivity and competitiveness," it said. "The Madani government stresses that this reform is not cosmetic or short term, but it is a continuous process to bring about thorough reforms for the betterment of the people and the country," it added. The Communications Ministry was responding to Datuk Mohd Suhaimi Abdullah (Perikatan-Langkawi), who asked if the government is still using the narrative of reform.
The Star
09-05-2025
- Business
- The Star
Tok Mat: South Asian tensions can hurt trade
Call to de-escalate: Mohamad sharing his thoughts in an interview with The Star at Wisma Putra, Putrajaya. — Foreign Minister's Office PUTRAJAYA: The Pakistan-India conflict could affect Malaysia economically, as the country has substantial trade ties with both nations. Malaysia is thus concerned over the situation in the sub-continent and is urging for both countries to open diplomatic channels to ease the situation, says Foreign Minister Datuk Seri Mohamad Hasan. 'We hope it will not escalate, it will have a direct impact on Malaysia especially in import and export. 'Our trade with both India and Pakistan is quite substantial, Malaysia will be greatly affected,' he told The Star in an interview at Wisma Putra yesterday. Bilateral trade between Malaysia and India has been steadily growing to reach US$20.01bil (RM86bil) in the last two years. Malaysia has emerged as the 16th largest trading partner for India, while India figures among the top 10 largest trading partners for Malaysia. Malaysia's top exports to India include palm oil, crude petroleum and semiconductor devices, while India exports refined petroleum, raw aluminum and frozen bovine meat to Malaysia. Trade with Pakistan is also strong, and saw a 54.8% increase from January to August 2024, reaching US$1.21bil (RM5.2bil). Malaysia's top exports to Pakistan include palm oil, refined petroleum and other vegetable oils. Pakistan exports rice, corn and onions to Malaysia. The Malaysian government has reaffirmed its support for all efforts aimed at de-escalation and meaningful dialogue between India and Pakistan. Mohamad also said the missions in both countries have issued advisories telling Malaysians living or studying in the two countries against travelling in areas where the conflict is taking place. 'Defer your travel plans to the conflict area for the time being,' he added.
