Finally our beloved Prime Minister of Malaysia has announced the Budget 2009. I’m not an economist by the way but i would be highlighting some key points here which I believe is important for me to point it out. I do know some of you are too lazy to read the whole thing. I’ll be highlighting some key-points here which is delivered by our Malaysian Prime Minister
Prime Minister of Malaysia delivering the 2009 Budget in Parliament of Malaysia (Source : The Star)
1.Excise duty specific on cigarettes increased by three sens – I think this move would certainly discourage people to smoke (No offence to smokers and chain-smokers) , but generally I think you are polluting the environment. Not only the environment , other peoples health and not to mention your health as well. However if you can’t control yourself , you might start to moan on the price increase. Just reduce your cigarette intake rather then stopping it at one go !
2. Extension of LRT system in Klang Valley (Kelana Jaya & Ampang Line) & New LRT Line route from Kota Damansara to Cheras - Finally we can reduce the massive congestion in Bandar Sunway , Puchong and those affected areas . Phew our cries are finally being heard one by one. I am sure most of the residents would be delighted to hear this good news. Horray , now if they can integrate all , we are good to go. Especially folks from Selangor and Kuala Lumpur
3. Lower Important Duty excise duty on new hybrid CBU cars for a period of two years – - W-O-W. Our Government is going green as well. This is great as this shows that they care for the environment and they want Kuala Lumpur to be cleaner city. Hurry up and get your foreign imported Hybrid Cars now (Oh yeah this offer is only valid for cars which are less then 2,000 cc). I guess this should do the trick especially for city driving. If you’re thinking twice to buy a Hybrid car , Its a future investment just incase our oil supply runs out earlier then what is expected
4. Extirpating Poverty - This includes the reduction of import duty consumer durables from 10% to 60% to 5% to 30% which is great , now the prices of Rice Cooker and Microwave will be cheaper. Apart from that , that ~ RM 600 Million and ~ RM 400 Million will be allocated for Sabah and Sarawak to improve their quality of life , to build and improvise the infrastructure there. There are are also other great incentives provided by the government to abolish poverty !
5. Workers Power ! - Guess they are now following the Western System. This is yet another great move which is to allocate childcare allowance of RM 2,400. This kind of system has been implemented for a long time in many European Countries and now they are following this system , which is great if both of the parents are working. Not to mention , if you’re working in the public sector, there would be a bonus of one month salary (and the minimum amount would be RM 1,000). So , now go on and increase your productivity – Show what you’re made of (This is just to motivate you guys to strife for the best)
There are lots of other improvement in terms of promoting tourism , promoting SME (Small and Medium Enterprises) and our Malaysian Culture. You can read the whole summarised version by clicking here (Source: The Star). Alternatively you can wait for tomorrow’s paper (29th August 2008) to be published to read the whole thing. I’ve summed it up for you and revealed my thoughts on what I think about these main key points which I’ve posted !