Reshuffling Economic Structure Will Finance PR Policies


KUALA LUMPUR, 27 FEB: Changes in the economic structure such as dismantling monopolies and introducing open tenders for Government projects by the Pakatan Rakyat (PR) administration will generate funds to implement policies contained in the PR manifesto.

Committee Member of the People’s Manifesto Presentation, Rafizi Ramli explained that policy funding and initiatives such as lowering car prices, funding free education and senior citizen bonuses are based on three financial resources.

The three financial resources are, expenditure savings by combating corruption and prudent spending, reshuffling expenditure priorities apart from increased returns from a better economic growth.

Rafizi said that, as a whole, the estimated cost of RM45.75 billion is needed to implement the economic programmes in the PR manifesto.

Meanwhile, if PR is given the chance to govern and to save in roadwork projects, as the Selangor PR Government did, it will add RM49.5 billion that can be used to finance PR programmes.

Rafizi said that Selangor was able to save RM10.4 million or 24 percent from allocations for roadwork projects.

If PR governs Putrajaya and does the same to the revenue expenditures of the Federal Government, it can save RM49.5 billion.

The total revenue of the Federal Government in 2013 is RM206.4 billion.

“Restructuring expenditure priorities can be made through reviewing subsidies to IPP, renegotiating monopolies and compensations.

“In addition to divert spending of the Prime Minister’s Department and sectors with lower priorities,” said Rafizi in a press conference at the PKR headquarters.

PR had launched the electoral manifesto on February 25, entitled ‘the People’s Manifesto’.

He said that if economic growth reaches seven percent every year, the Gross Domestic Product (GDP) will increase by RM20 billion every year.

“Collection of additional tax at the average ratio of 20 percent translates to an additional income of RM4 billion yearly,” he said.

In addition, the implementation of an open tender system can create greater competition and the sale of AP (Approved Permit) vehicles will add to the national financial flow, he said.

“Every programme has been calculated based on the estimates annual cash flow.

“Exact figures are important for the reason of meaningful discussion, not figures to scare the people,” he said.

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