News: Gov’t to complete 2020 projects

Nov 16, 2020

Minister in the Prime Minister’s Department (Economic Affairs) Datuk Seri Mustapa Mohamed assured that the government will strive to complete this year’s development projects.

In fact, the minister, along with the government’s chief secretary, is set to chair a meeting to discuss the implementation plans for such projects, reported Bernama.

He revealed that the meeting would involve several ministries, such as the Ministry of Finance, the Ministry of Works as well as the Implementation Coordination Unit under the Prime Minister’s Department.

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Aside from the 2020 projects, the meeting would also touch on the implementation and monitoring of development projects for next year.

“Under the Prihatin package, the government has allocated RM4 billion for projects implemented by G1 and G2 contractors, while Budget 2021 has allocated RM2.5 billion to the said contractors for the implementation of small and medium projects nationwide,” said Mustapa as quoted by Bernama.

“Around 54,000 G1 contractors and 24,000 G2 contractors nationwide are expected to benefit from the allocation,” he said.

Mustapa noted that while the economy showed signs of recovery, Malaysia is still far from pre-COVID-19 crisis levels since the COVID-19 vaccine is yet to be proven fully successful and the country’s borders remain shut.

“As such, we need to continue to look for creative ways to ensure economic sustainability in the midst of living in the new norm ‘together’ with Covid-19,” said the minister.

Meanwhile, Mustapa shared that the country’s gross domestic product for the third quarter of 2020 shrank 2.7%. He noted that this is better than the 4% decline projected by Bloomberg.

“This clearly shows that the nation is on the right track for recovery,” he said.

Of the RM64.96 billion allocation for development expenditure this year, 80.6% had been utilized as at 8 November 2020, he added.

 

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