Not! Pfffft.
Backtrack issue.
If you read the papers today and before, economic crunch is hitting us. It's hitting the private sector mostly, certain semi-government companies, professionals and non-professionals and employees in general. Some companies wind up, some retrench a fraction of their workers, some cut a certain percentage of their employees' wages.
Imagine. Those who are poor being retrenched or a sole breadwinner's payment being cut a half percentage of their salaries? Those having a household income of below RM1,000, or earning between RM1,000-RM2,000 but with a big family to feed, bills to pay, clothes to cover, a home for shelter. How to feed their family? How to live? That goes to say that money is everything. I guess the saying is true but yes, it is highly argumentative. To those in need, money is a means to survive and live. They need their salary to keep their family safe.
The mini budget released by MOF a couple of weeks back created an economic stimulus amongst the nation. It is perhaps an attempt to create an active movement in the country's economy, which pro-creates a mechanism to help the needy. Among others, the mini budget can be seen below:
Total Stimulus: RM60 Billion
Allocated to the following categories:
RM15 billion: Fiscal Injection (pumping cash to increase liquidity)
RM25 billion: Guarantee Funds
RM 10 billion: Equity Investment (via Khazanah)
RM 7 billion: Private Finance Initiative
RM 3 billion: Tax Incentives
Implementation Timeline: 2009-2010
2009 GDP Forecast: -1% to 1%
Fiscal Deficit: 4.8% to 7.6%
Others: RM5,000 rebate for new car purchase with trade-in of an at least 10 years old car, Rm10,000 worth of scholarships.
*source:www.meshio.com, a malaysian personal finance blog
As I know nuts with regards to economics, finance, accounts and all arithmetical related areas, I am not to be made the source of reference in sharing this information.
I am of the opinion that it is a good move in coming up with a back up plan in the event that the recession hits hard on Malaysia's face. Indeed, prevention is always better than cure.
However, coming up with a plan is always easy to do, but executing the plan is another thing. My concern is that the needy be given a little bit more attention so that financial gaps between the masses aren't too wide. I hope we will all walk the talk, talk the walk. And that, includes me! I have to practice what I preach, don't I?
Backtrack issue.
If you read the papers today and before, economic crunch is hitting us. It's hitting the private sector mostly, certain semi-government companies, professionals and non-professionals and employees in general. Some companies wind up, some retrench a fraction of their workers, some cut a certain percentage of their employees' wages.
Imagine. Those who are poor being retrenched or a sole breadwinner's payment being cut a half percentage of their salaries? Those having a household income of below RM1,000, or earning between RM1,000-RM2,000 but with a big family to feed, bills to pay, clothes to cover, a home for shelter. How to feed their family? How to live? That goes to say that money is everything. I guess the saying is true but yes, it is highly argumentative. To those in need, money is a means to survive and live. They need their salary to keep their family safe.
The mini budget released by MOF a couple of weeks back created an economic stimulus amongst the nation. It is perhaps an attempt to create an active movement in the country's economy, which pro-creates a mechanism to help the needy. Among others, the mini budget can be seen below:
Total Stimulus: RM60 Billion
Allocated to the following categories:
RM15 billion: Fiscal Injection (pumping cash to increase liquidity)
RM25 billion: Guarantee Funds
RM 10 billion: Equity Investment (via Khazanah)
RM 7 billion: Private Finance Initiative
RM 3 billion: Tax Incentives
Implementation Timeline: 2009-2010
2009 GDP Forecast: -1% to 1%
Fiscal Deficit: 4.8% to 7.6%
Others: RM5,000 rebate for new car purchase with trade-in of an at least 10 years old car, Rm10,000 worth of scholarships.
*source:www.meshio.com, a malaysian personal finance blog
As I know nuts with regards to economics, finance, accounts and all arithmetical related areas, I am not to be made the source of reference in sharing this information.
I am of the opinion that it is a good move in coming up with a back up plan in the event that the recession hits hard on Malaysia's face. Indeed, prevention is always better than cure.
However, coming up with a plan is always easy to do, but executing the plan is another thing. My concern is that the needy be given a little bit more attention so that financial gaps between the masses aren't too wide. I hope we will all walk the talk, talk the walk. And that, includes me! I have to practice what I preach, don't I?
2 comments:
do you realise that the more the credit crunches, the more we buy??? or is it just me?
esp when there are online boutiques sprouting like mushrooms everywhere and purchases can be made with a click of the mouse!
gah!
first time commenting. keep on writing :)
cheers.
omg you're not the only one haneesa! i was telling that to myself! online boutique is a murdererrrrr!
thanks dear!
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