Friday, September 7, 2007
Malaysia Budget 2008 - Con't
- To promote a culture of life-long learning among Malaysians, the Government proposes tax relief of up to RM5,000 on education fees be extended to all post graduate studies
- To ease the burden of home loan repayment, the Government will allow EPF contributors to make monthly withdrawals from the balance in Account 2. The scheme will be effective 1 January 2008 and is for the financing of one house. This is a major move, which will benefit 5 million active EPF contributors. This scheme will enable contributors to own better houses than they could otherwise afford as well as lessen their monthly financial obligations. This scheme will make available up to RM9.6 billion annually for the purchase of houses.
- In addition, to promote healthy lifestyle among Malaysians, the Government proposes that individual tax relief of up to RM300 a year be given on the purchases of sports and exercise equipment.
- The Government will encourage more mothers to provide childcare services at home. These home-based services will provide job opportunities for housewives to operate these centres and, at the same time, enable more women to join the workforce. For this purpose, the Government will provide an initial allocation of RM10 million to NGOs to provide training to housewives in baby and childcare.
- A sum of RM4 billion is allocated to implement several projects to improve the quality of life in Sabah. Among the major projects are the construction of Jalan Kota Marudu-Ranau, Sandakan Northern Ring Road, upgrading of Jalan Kota Belud-Langkon, provision of rural health services, hospital facilities, low-cost housing, electricity and water supply, as well as upgrading of roads and railway.
- A sum of RM4 billion is provided for the implementation of development projects in Sarawak. Among the major projects are construction of Jalan Kota Samarahan-Gumpeh, upgrading of Jalan Kuching-Sibu, provision of rural health services, Universiti Putra Malaysia, IKM in Bintulu, electricity and water supply projects, sewerage as well as replacement of Batang Lupar Bridge in Samarahan.
- To further promote tourism activities in Sabah and Sarawak, RM200 million is provided under the Tourism Infrastructure Fund, managed by Bank Pembangunan Malaysia Berhad. Priority will be given to tourism projects which leverage on the rich natural endowments of Sabah and Sarawak.
- Efforts will continue to be taken to improve the income and standard of living of Bumiputeras in Sarawak, including Iban, Bidayuh, Melanau and Melayu, as well as Kadazan-Dusun, Melayu, Bajau and Murut in Sabah. For this purpose, a sum of RM800 million is provided for Sarawak and Sabah. Among the programmes to be implemented, particularly for the low income group, include housing, skills and entrepreneurship training, water and electricity supply, roads, as well as pre-school education.
# posted by Dr Roland Chia @ 5:35 PM 
Subscribe to Posts [Atom]