Posts

Showing posts with the label Economy

DAP wants FTAs open to Parliament checks

Image
By Clara Chooi A DAP MP urged the government today to set up a Parliamentary Select Committee on Free Trade Agreements (FTA) to allow legislators to scrutinise FTA negotiations. Klang MP Charles Santiago mooted the proposal today and pointed out that at present, the Malaysian Parliament was a mere “rubber stamp” as it would be forced to accept all negotiations without any checks and balances. “Parliament has no avenue to discuss, debate or comment on FTAs which have critical significance [for] sovereignty, development and public policy... issues that have major ramifications to the lives of Malaysians,” Charles said in a press conference in Parliament today. The trained economist claimed that at present, FTA negotiations were conducted in a “non-transparent” manner and without an avenue to discuss on the agreements in Parliament, national laws would eventually be amended to reflect the commitments made at the negotiations. “Parliament will have no choice but to accept the decisions. It...

CM: Give Penang special perks too

Penang should be granted equal treatment in preferential airport charges and benefits as enjoyed by the Malacca Airport, said Chief Minister and DAP Secretary-General Lim Guan Eng. "Penang as a Unesco World Heritage Site just like Malacca should also be given such incentives,” he said during the Penang Development Corporation and InvestPenang appreciation dinner at Bukit Jambul Country Club yesterday. Malacca Chief Minister Datuk Seri Mohd Ali Rustam had earlier said he received a letter from Transport Minister Datuk Seri Ong Tee Keat for the Malacca Airport to enjoy benefits under the Government’s incentive schemes to promote tourism in Malaysia. This includes a RM25 incentive for each incoming passenger for the first 12 months for new airlines flying to new routes or increasing flight frequency. Another benefit is the RM10 to RM15 incentive for each incoming passenger after the period, depending on the performances of the air carriers. Also included is a deferment of landing cha...

Penang government lashes out at Gerakan over ‘lost’ deal

The Penang state government and Gerakan continued bickering over the decision to turn down a US$3bil (RM10.1bil) investment deal because the state government could not guarantee 1,000 electric and electronic (E&E) engineers required by the company. In a statement yesterday, Penang Chief Minister Lim Guan Eng’s special investment officer Jeffrey Chew lashed out at Gerakan for using hit-and-run tactics and practising a “promise first hope later” attitude. "The Penang state government is not as irresponsible as Gerakan in making empty promises that would jeopardise our credibility,” he said, adding that the state government could incur loses as much as US$3bil to compensate the investors should it be unable to fulfill its own guarantees. Chew said this in response to criticism from Penang Gerakan chief Datuk Dr Teng Hock Nan who said the state could not afford to turn away investors. Chew said the Malaysian Employers Federation, among other bodies, had detailed the shortage of E...

Penang: Give RM800 per month to axed workers

Penang has proposed that the federal government provide a retrenchment scheme of RM800 monthly for each of the 100,000 workers who will lose their job in April. Chief Minister and DAP Secretary-General Lim Guan Eng said the retrenched workers should be given the aid until the economy recovers and when they gain employment. "This is necessary as the workers are retrenched not because of indiscipline but due to the economic downturn. The government must use a global approach to address this problem," he told a press conference at his office today. Lim who is also Bagan MP was commenting a Manpower Department statement that some 100,000 workers are expected to be retrenched by April due to the global economic downturn. If implemented, the proposal would only cost the government RM488 million for six months or RM960 million for one year. He also proposed that the government provide a RM12 billion economic stimulus package as the RM7 billion under the first package was inadequate ...

Stimulus package should exceed RM50 billion, Guan Eng says

Chief Minister and DAP Secretary-General Lim Guan Eng says the economic stimulus package should be at least RM50 billion in tandem with similar packages by other nations in the region. "The package must be a minimum US$14 billion (RM50 billion) to allow the people to benefit from the money directly," he said today. Lim said the current stimulus package worth RM7 billion was paltry compared to what other nations were preparing to spend. He noted that Indonesia was preparing a stimulus package worth RM228 billion, Singapore RM27 billion and Vietnam RM22 billion, while the US had announced a package of RM5.6 trillion. "We hope the government can also implement infrastructure projects during this period," he told a press conference in his office here. Lim called on the federal government to prepare a substantial allocation for retrenched workers to receive unemployment benefits. He noted that the Manpower Department had reportedly said that some 100,000 people are expec...