Najib: Vital to have targeted and focused stimulus package

By Saturday February 28th, 2009 No Comments

 KUALA LUMPUR: It is more important to have a targeted and focused second fiscal stimulus package instead of offering a rushed version.

“It is not a question of timing alone, but what kind of package, the size of it, and more importantly, whether it is targeted and focused in the right areas.

“That requires a bit of time to work on,” said Deputy Prime Minister Datuk Seri Najib Tun Razak.

He added that there were countries which had announced fiscal stimulus packages which had yet to produce results.

Najib said the Government refused to be rushed into introducing the second budget stimulus, dubbed the mini budget, because it wanted to ensure the package worked effectively.

The Finance Minister said the timing of the fiscal stimulus was not the only factor to help the nation overcome the projected contraction in growth.

“So, in view of the deepening crisis, the second package will have to be bigger and more comprehensive in nature,” he said after opening the three-day D8 Ministers Meeting on Food Security here yesterday.

Najib said specific figures would be announced during the mini budget in Parliament on March 10.

On another matter, Najib said he would leave it to the Malaysian Anti-Corruption Commission (MACC) to investigate corruption allegations against Barisan Nasional leaders made by Malim Nawar assemblyman Keshvinder Singh and Kuala Kurau assemblyman Abdul Yunus Jamahri.

The two PKR state assemblymen from Perak lodged reports with the MACC on Wednesday claiming that they had been offered money and posts to leave the party.

Asked about his alleged involvement in the matter, Najib replied: “No. I did not make any offer to anyone. Let the commission investigate. If they make false reports they will have to face the consequences.”

In his opening address read out by Education Minister Datuk Seri Hishammuddin Tun Hussein at the International Conference of Youth and Terrorism themed ‘Youth for World Peace’, Najib stressed that the youth should celebrate the love of life but condemn violence and realise the futility and destruction of terrorism.

He said the youth should have the capacity to realise the dangers of terrorism despite the political circumstances or personal traumas.

Calling for an end to the terrorism “madness”, Najib said no religion or culture advocated violence to another and no cause or political antecedent could justify acts of terrorism.

The Raja Muda of Perak Raja Dr Nazrin Shah is expected to give his royal address at the conference today.

Source : The Star

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