Enhancing inclusive development, increasing purchasing power

Source: 123rf

18 October, KUALA LUMPUR – The government is committed to increasing the income and purchasing power of the people especially for the lower income group (B40) and target groups to reduce socioeconomic disparities.

Based on the inclusive development approach, the strategy aimed at improving the welfare of the people as a whole in tandem with economic growth, according to the 11th Malaysia Plan Mid-Term Review (RMK) Report 2016-2020.

According to a document released by the Ministry of Economic Affairs today, the new priorities and emphases were underlined under the “Enhancing Inclusive Development and Wellbeing” pillar which encompasses two priority areas and nine strategies.

In order to increase B40 household income and purchasing power, several initiatives will be undertaken to increase the capacity and capabilities of households to gain employment, encourage entrepreneurship and increase their productivity.

“The move to improve the social protection system will also be implemented to ensure that the quality of life of these groups is not affected in the face of socioeconomic uncertainties,” the report said.

Additionally, access to education and skills training would be reinforced as a major initiative in enhancing social mobility.

Along with the achievements made, efforts would also be doubled to strengthen the Bumiputera Economic Community (BEC) as well as empowering the minorities and special target groups.

In the final period of the Plan, efforts will be intensified to strengthen the effectiveness of Bumiputera institutions and programmes, empower education and human capital as well as enhance effective control and sustainability in corporate equity ownership.

Several initiatives would also be implemented to empower minority groups towards creating a fair society including the Orang Asli, as well as initiatives to address the needs of target groups, especially children, youth, women, senior citizens, disabled people and families to develop their potential in society and nation building.

Under the strategy of improving the well-being of the people, one of the the focus is to provide affordable and quality housing whereby a National Affordable Housing Council would be established to oversee the implementation of affordable housing throughout the country.

“The government targets a total of 200,000 affordable housing units built within the final period of RMK11 involving housing programs by federal and state government agencies as well as private developers.

At the same time, the noble values and patriotism of the people would continue to be sown to foster greater social unity and national unity, while active sports and lifestyle would be encouraged to build a healthy and prosperous society.

– BERNAMA

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