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Second package will be bigger: Najib - Najib Razak

Second package will be bigger: Najib

By Tuesday February 24th, 2009 No Comments

KUALA LUMPUR: The second economic stimulus package to be announced next month will have to be bigger and more comprehensive than the first if it is to have an impact on the domestic market, said Deputy Prime Minister Datuk Seri Najib Tun Razak.

“We have an idea but let me table it in the Cabinet first.

“It will be bigger and more comprehensive, big enough to make an impact on the domestic market.

“We are assessing the figures, the percentage of Gross Domestic Product and sources of funding,” he told reporters after the monthly National Economic Action Council meeting, chaired by Prime Minister Datuk Seri Abdullah Ahmad Badawi, at Parliament House Tuesday.

At the press conference, Najib, who is Finance Minister, said tenders would only be called for projects worth RM500,000 and above.

Previously, projects valued at RM200,000 and above would require tenders. Now, only quotations would suffice for projects below RM500,000.

The new move would benefit Class E contractors, said Najib, adding it would speed up the implementation of projects.

Source : Bernama

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