KUCHING: Senator Robert Lau Hui Yew hoped that the unity government is able to reduce the country’s debts and budget deficit.
He said the government cannot go on borrowing much more if it wants Malaysia to be a developed country.
“The big elephant in the room is the huge interest on the country’s debt which stands at more than RM1 trillion. This payment alone takes up 26 per cent of the total budget.
“If we look at our source of revenue a big percentage comes from natural resources in particular oil and gas. This is nature’s gift and cannot be counted on forever.
“We need to be a productive and competitive country. The new government will have to ensure its policy be in line with this effort of pushing our country productivity upward,” he said in a statement yesterday.
Lau said this after attending the Senate Sitting at the Parliament House, Kuala Lumpur which the meeting’s agenda was to approve the Mini Budget which was passed at Dewan Rakyat on December 20.
Although unable to participate in the debate (which was limited to only five participants), Lau expressed his viewpoints through the statement.
He said the new government under the 10th Prime Minister has the immediate task of ensuring that the day-to-day operations continue to function regardless of the politicking over the last few months that led to the dissolution of the Dewan Rakyat on October 10, 2022, three days after the passing of the Supply Bill 2023 (2023 Budget).
“With the dissolution of Dewan Rakyat, the Supply Bill is aborted despite being tabled on October 8.
“One of the first steps the new government has taken is to table a bill in both houses of the Parliament before the end of the year to make provision for expenditure in 2023 for the period from January 1, 2023, until the date the Supply Bill for the year 2023 becomes law and comes into operation,” he told.
He said the one-day sitting of Dewan Negara on Wednesday (Dec 21) was to approve the temporary measure for the payment of the expenditure year 2023 until the Budget 2023 is approved and comes into operation.
“This temporary budget totals RM108 billion.
“The biggest three items are Treasury General Services of RM28 billion, Ministry of Education of RM25 billion and Ministry of Health of RM17 billion.
“The new PM, Datuk Seri Anwar Ibrahim, said the new budget for 2023 is to be tabled in February 2023,” he added.
