RM10bil expected in second stimulus package
KUALA LUMPUR: The second stimulus package to help the country weather the global economic meltdown will be at least RM10bil.
The total amount however is expected to be more as additional funds could be announced when Deputy Prime Minister Datuk Seri Najib Tun Razak unveils the package in Parliament on Tuesday.
The RM10bil was provided for through the Supplementary Supply (2009) Bill which was tabled at the Dewan Rakyat by Deputy Finance Minister Datuk Kong Cho Ha yesterday.
Speaking to reporters at the Parliament lobby later, he said the total amount for the package might be bigger when Najib announced it.
“This is because there will be measures on tax reliefs and also direct investment by private companies,” he said.
Of the RM10bil tabled yesterday, Kong said RM5bil would be for development funds and RM5bil for operation funds.
The stimulus package is the second after the Government provided a RM7bil package last November.
Further details on how the RM10bil was going to be spent was not available despite copies of the Bill being distributed to MPs yesterday.
When reporters began asking for the details from the MPs, Dewan Rakyat Deputy Speaker Datuk Ronald Kiandee asked them not to reveal anything until after Najib presented it in the House.
“Until the Bill is presented on Tuesday, I wish to inform you that it is not appropriate to reveal the information contained in the Bill to other parties,” he told the MPs in the House.
Apart from the Bill, MPs were also given a memorandum from the Treasury on the estimated development expenditure for the year 2009.
The Dewan has scheduled three days for debating and winding up of the Bill.
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