ID :
15550
Mon, 08/11/2008 - 18:10
Auther :
Shortlink :
http://m.oananews.org//node/15550
The shortlink copeid
FORMULATE STRATEGIES TO KEEP ECONOMY GOING, SAYS ABDULLAH
PUTRAJAYA, Aug 11 (Bernama) -- Formulating strategies to keep the economy going in the midst of a global economy that is showing signs of slowing down is among priorities to be given immediate attention by the Malaysian Economic Council, Prime Minister Abdullah Ahmad Badawi said Monday.
He said the 40-member council comprising cabinet ministers, heads of
government departments and agencies, captains of industries, non-governmental
organisations and trade unionists also had the urgent task of identifying
measures to curb inflation and to cushion the impact of rising prices on the
low-and middle-income group and other vulnerable segments of society.
The private sector and non-governmental organisations had an important role
to play in supporting and complementing government initiatives in these areas,
he said in his opening remarks before chairing the council's first
meeting.
The prime minister said the meeting would consider the status and trend of
the Malaysian economy between 2008 and 2009 and the status of measures
implemented to address inflation.
It would also consider the council's work programmes and strategies to
promote private investments, he said.
Abdullah said the government alone cannot address or insulate the nation
from global forces.
He said all parties -- the government, corporate sector and the people --
have their responsibilities and roles to play in ensuring the nation's
continued prosperity.
They have to anticipate and be proactive in addressing these issues, he
said.
The government, he said, would play its part to facilitate continued growth
and protect the people against the impact of adverse global developments.
He said the corporate sector must also respond by continuing to invest and
generate economic activities whilst emphasising employees' welfare.
"I'm confident if all parties take ownership to overcome the current
economic challenges, we will prevail and grow stronger," he said.
The prime minister said the Malaysian economy was holding up quite well in
terms of economic fundamentals despite being under severe external pressures.
"Nonetheless, we currently face the possibility of a slower economic growth
arising from a global economic slowdown and increasing inflationary pressures
fuelled by high commodity, food and energy prices," he said.
Under this circumstances, Malaysia faced the challenging task of sustaining
its growth momentum, curbing inflation and cushioning the impact of rising
prices, particularly on the low-and middle-income group, he added.
He said the 40-member council comprising cabinet ministers, heads of
government departments and agencies, captains of industries, non-governmental
organisations and trade unionists also had the urgent task of identifying
measures to curb inflation and to cushion the impact of rising prices on the
low-and middle-income group and other vulnerable segments of society.
The private sector and non-governmental organisations had an important role
to play in supporting and complementing government initiatives in these areas,
he said in his opening remarks before chairing the council's first
meeting.
The prime minister said the meeting would consider the status and trend of
the Malaysian economy between 2008 and 2009 and the status of measures
implemented to address inflation.
It would also consider the council's work programmes and strategies to
promote private investments, he said.
Abdullah said the government alone cannot address or insulate the nation
from global forces.
He said all parties -- the government, corporate sector and the people --
have their responsibilities and roles to play in ensuring the nation's
continued prosperity.
They have to anticipate and be proactive in addressing these issues, he
said.
The government, he said, would play its part to facilitate continued growth
and protect the people against the impact of adverse global developments.
He said the corporate sector must also respond by continuing to invest and
generate economic activities whilst emphasising employees' welfare.
"I'm confident if all parties take ownership to overcome the current
economic challenges, we will prevail and grow stronger," he said.
The prime minister said the Malaysian economy was holding up quite well in
terms of economic fundamentals despite being under severe external pressures.
"Nonetheless, we currently face the possibility of a slower economic growth
arising from a global economic slowdown and increasing inflationary pressures
fuelled by high commodity, food and energy prices," he said.
Under this circumstances, Malaysia faced the challenging task of sustaining
its growth momentum, curbing inflation and cushioning the impact of rising
prices, particularly on the low-and middle-income group, he added.
