Comments for the RM60B Sec Stimulus Package

The RM60 billion second stimulus package unveiled by the Finance Minister Datuk Seri Najib Tun Razak with the aim of preventing the country from slipping into a serious recession has presented a series of bold measures to grapple with a number of pressing economic problems which if not addressed will have serious repercussions on social and political stability.

The country is now facing challenging and difficult times and it calls for strong and bold efforts to help ease the burden of all Malaysians and reduce their hardship.

We may not expect every Malaysian to agree fully with the Stimulus Package but judging from the reaction from a cross-section of Malaysians, there is general acceptance by the public of the four main thrusts of the Package which are to reduce unemployment and increase job opportunities; easing the burden of the rakyat, in particular the vulnerable groups; assisting the private sector and building capacity for the future.

It is laudable for efforts to create 163,000 jobs, provide training opportunities; make available food subsidies and keeping the toll rates down which are indeed very essential to help ease the burden of the average Malaysians.

Besides this the Government should also study the possibility of making available cash payment to those who are in dire straits and providing some immediate benefit to those who have become unemployed.

Having introduced the RM60 billion stimulus package what must be done now is for the Government to ensure the proper planning and execution of all the measures unveiled and ensure they achieve the desired results.

In this connection the Government has to introduce strong monitoring mechanisms at the various levels to ensure that all projects are closely monitored and there are no wastages and leakages. There must be full transparency and accountability in the implementation of all these projects and award of contracts.

I wish to suggest the formation of a high-powered Monitoring Task Force to be chaired by the Finance Minister himself to monitor the implementation of the Second Stimulus Package and give confidence to the people that the Government will leave no stone unturned to ensure the success of the Stimulus Package to counter the recession and help the rakyat.

The successful implementation the RM60 billion lifeline also calls for the total commitment of the public sector to give their best and walk the extra mile to make sure the smooth implementation of the Second Stimulus Package.