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Jala: PM To Announce New Projects Next Week
 
News From : DagangHalal.com (11/26/2010)

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak is expected to announce on Tuesday new development projects as well as several entry point projects that will boost the oil, gas and energy sector.

He (Najib) will announce some of the confirmed projects and provide updates on previous projects announced, Minister in the Prime Minister's Department, Senator Datuk Seri Idris Jala, said at the 29th Majeca-Jameca joint conference yesterday.

Jala, who had presented a paper on the Economic Transformation Programme (ETP) earlier, was speaking to reporters on its updates and 2011 focus.

He said for next year, the focus would be on the roll-out of projects under the 12 National Key Economic Areas that were vital for the ETP. When we chose these areas, we believed they had competitive advantages and provided resilience to the economy in absorbing any shocks, explained Jala.

Meanwhile, on subsidy rationalisation, he said the Government would make revisions at the right time and adjust it accordingly over time. Bernama

I think what we have done is to ensure we manage the liberalisation of the pricing based on market prices, he added.

Based on feedback, he said the public agreed to further subsidy rationalisation, only if the Government did it in small doses rather than big increases and over a longer time period. Bernama

When asked whether the review would be done every six months, Jala said: We will take it as we go along and inform the public with regards to how it is to be done going forward.

However, he added, it would not be announced in advance to avoid any distortion in the market, like the hoarding of particular items by some parties.

- BERNAMA

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