RM5.9 billion allocation for Sabah generous, timely: KCCI

14 September, 2003

Kota Kinabalu: The Kadazandusun Chamber of Commerce and Industry (KCCI) described the RM5.9 billion allocation for Sabah as generous and timely.

KCCI President Datuk Ajit Galun on Saturday said the Budget would stimulate the domestic economy, improve the services sector, increase the country’s competitiveness and, at the same time, continue the policy of a caring society.

He said the RM5.9 billion for Sabah would hasten the development agenda of the State Government under the leadership of Chief Minister Datuk Musa Aman.

However, Ajit hoped that implementing agencies would ensure projects under their charge proceed smoothly.

“In the past, allocations were given to Sabah but unfortunately many projects faced long delays. I hope this time around, the various agencies will work hard to ensure the Prime’s Minister’s parting gift is not wasted.” He said.

Ajit said KCCI welcomes the Government’s move to focus on small and medium industries.

“Most of the industries in Sabah are under this category and the Budget will benefit them tremendously,” he said.

Ajit urged Kadazandusun businessmen, especially those involved in the SMIs, to take full advantage of the Budget.

“They should now focus on improving their products and marketing strategies to make them competitive in the markets. They should also look into overseas markets, especially the BIMP-EAGA region, which has a huge population,” he said.

Ajit said the reduction of income tax on up to RM500,000 of chargeable income of the SMIs and various schemes would help local enterprises to be more productive and competitive.

He also urged Kadazandusun entrepreneurs to take advantage of the extra RM1 billion under the Micro Credit Scheme.

Ajit said the Budget 2004 paved the way for the private sector to steer the country’s economy, which was previously driven by the Government.

“The tax boosts announced by the Prime Minister for businesses will benefit the people, especially employees as they will get more incentives and perks,” he said.

“Other than that, many incentives are given in the Budget, especially with the Government considering single mothers, the disabled and the elderly in the allocation of low-cost housing.

“This is certainly a very good and caring Budget which all Malaysians should welcome with open arms,” said Ajit.