Thursday, January 21, 2016

PM wants GLCs to invest in strategic sectors

Datuk Seri Najib Tun Razak has urged government-linked companies (GLCs) to take more prudent steps to invest in Malaysia’s strategic sectors.

The Prime Minister said on his blog on Thursday that he had instructed the GLCs to step up their invesments in these sectors to generate economic growth.

He said he was confident Malaysia could meet the economic challenges and the government would ensure the country's economic growth remained solid and people-centric.

Najib, who is also the Finance Minister, said the fall in crude oil prices, which are now below US$30 a barrel, and the decline in commodity prices, reflected the challenges ahead for the global economy.

These factors, he said, had forced many countries to revise their growth forecasts.

He said Malaysia was not excluded from these economic challenges which had impacted the country’s revenue, saying "I will announce the revised Budget 2016 on Jan 28”.

Earlier on Thursday, he and the Finance Ministry held discussions with representatives of consumer associations and GLCs.

He added that he and the ministry would consider the proposals put forward at the meeting.

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