MINISTER in the Prime Minister’s Department (Economic Affairs) Datuk Seri Mustapa Mohamed will soon hold a meeting with the Chief Secretary to the Government to discuss the development of projects that are set to be completed this year.
The meeting will also involve several ministries including the Finance Ministry, Works Ministry and the Implementation Coordination under the PM’s Department to discuss the implementation and monitoring of 2021 projects.
“Under the PRIHATIN package, the government has allocated RM4 bil for projects implemented by G1 and G2 contractors, while Budget 2021 has allocated RM2.5 bil to the said contractors for the implementation of small and medium projects nationwide,” Mustapa said in a statement yesterday.
“Around 54,000 G1 contractors and 24,000 G2 contractors nationwide are expected to benefit from the allocation,” he added.
Mustapa believes that the country is still far from pre-COVID-19 level recovery despite showing signs of trade picking up as the vaccine has yet to be proven successful and Malaysia’s borders still remain shut.
Additionally, the minister also mentioned that the nation’s gross domestic product (GDP) had contracted 2.7% in the third quarter of 2020, but noted that the decline was better than the Bloomberg’s projection of -4.0%.
“This clearly shows that the nation is on the right track for recovery,” he said, adding that 80.6% of the RM64.96 bil allocated for development expenditure in 2020 had been utilised as at Nov 8, 2020. – Nov 15, 2020