Vincent Tan: Najib proactive in dealing with economic challenges

PETALING JAYA: The recent announcement by the prime minister on measures to be taken under the revised Budget 2016 shows he is proactive in dealing with the economic challenges we are facing.
Berjaya Group founder, Tan Sri Vincent Tan (pix) said these challenges were in fact faced not just by Malaysians, but globally.
"The proposed measures address the immediate concerns of our economy and are definitely welcomed to ensure our economy remains strong and the welfare of the rakyat safeguarded," he said.
He said measures like reducing employees EPF contributions by 3% and providing additional tax reliefs of RM2,000 for those earning less than RM8,000 per month will go a long way towards easing the burdens of most ordinary Malaysians.
"At the same time, it will also help boost consumer spending for the good of the economy," he said, adding that the tightening of free duty treatment of imported vehicles in duty-free islands will reduce leakages of tax revenues and add millions to government reserves.
Tan said Datuk Seri Najib Abdul Razak has also shown concern for the rakyat’s needs for affordable homes with a move to ensure properties in new housing projects priced up to RM300,000 are sold only to first time owners.
"The hardcore poor are also not left out with the proposed measure that they be given 20kg of rice every month.
"On the whole, the revised budget is very positive, enabling the government to save billions and at the same time addressing the rakyat’s needs," he said.
The local and international community, he said, have reacted positively as demonstrated by the immediate strengthening of the ringgit across all currencies and the strong gain in the stock market today.
"I see this as a good start to the year for our country," he added.