News_archive

Press Release – 4,667 projects under Stimulus Project awarded

By Thursday January 29th, 2009 No Comments

PRESS RELEASE

29 January 2009

4,667 projects under Stimulus Project awarded

More than 70 per cent of the RM7 billion stimulus package designed to reinforce and stimulate the economy with high impact projects has been released to the Ministries and agencies.

A total of 4,667 projects identified under the package for education and health have already been awarded. Of these 2,224 are education projects valued at RM200 million requiring upgrading, rehabilitation and maintenance and 2,443 are health projects costing RM200 million. These projects will be implemented throughout the country.

The Ministries and agencies have been directed to ensure that projects identified for implementation under the stimulus package are implemented as soon as possible and are to be completed this year.

Procedures are being streamlined to ensure speedy implementation of the projects designed for high impact and high multiplier effect to stimulate growth, enhance resilience of the economy, improve quality of life and human capital development.

This is because given the uncertainties in the global economic environment, the swiftness to act in implementing the programmes is very critical.

The Head of the Project Monitoring Unit (PMU), Dato’ Ir Mohamad Othman Zainal Azim, will report directly to the Minister of Finance, Dato’ Sri Najib Tun Razak, on the progress on a regular basis.The PMU, will monitor and coordinate implementation of critical and high-impact projects to ensure efficient and effective implementation.

The package is designed to reinforce the economy and strengthen national resilience to face the challenges from the global economic slowdown.

High on the government’s priority include housing and facilities for schools and armed forces as well as training for capacity building.

Since the construction sector has a high multiplier, RM5 billion of the RM7 billion package has been allocated for small construction and development projects. These include RM1.2 billion for building and maintenance of low-cost houses and the rest for infrastructure, schools, police stations and army quarters.

Under the package more than 20,000 houses will be built. These include:

»6,500 houses by Syarikat Perumahan Negara Bhd;
»15,000 houses costing between RM30,000 and RM35,000 each in Peninsular Malaysia and between RM35,000 to RM40,000 in Sabah and Sarawak to be built by the Rural and Regional Development ministry.

A sum of RM1 billion has been allocated for human capital development necessary to maintain Malaysia’s competitiveness and enhance efficiency of the labour force. These include:

»RM150 million to the Ministry of Youth and Sports
»RM50 million to the Ministry of Human Resources
»RM42.4 million to the Ministry of Entrepreneur Development
»RM50 million each for MARA and PROSPER
»RM180 million for pre-school and early education programmes

The government is monitoring the global and domestic economic situation very closely and in the face of further deterioration in the global economy, additional pre-emptive measures are being considered.

 Source: Minister of Finance

 

Leave a Reply