Business circles in agreement with Najib’s budget

Chambers of commerce are all praises that the budget has given priority to the lower income group.

PETALING JAYA: Business circles are pleased that the woes of the lower income group is being addressed in the 2012 budget.

Kuala Lumpur Malay Chamber of Commerce president Syed Amin Al-Jeffri said this was commendable given the volatile economic conditions around the globe.

“Najib took into consideration the high cost of living by coming up with policies that will help increase the people’s spending power,” said Amin.

Among the policies he was impressed with was the abolishing of fees in schools and allowing more teachers to upgrade their skills by going for further studies.

“We can see more grants being channeled into education, research and development and for business expansion,” said Amin.

He added that Najib was right in his focus to enhance the nation’s food security by allocating RM1.1 billion for agriculture development.

“And it’s good that the government still maintains the subsidies for basic goods such as rice, sugar and flour,” said Amin.

On the small and medium enterprises (SME), Amin said it would be best if the government found ways to help the SMEs to market their products rather than offering more cash assistance.

“Based on our experience, cash assistance alone doesn’t help the SMEs. What they need is better access for them to market their product,” he said.

Amin said most SMEs could not depend on supermarkets and hypermarkets to market their products as the latter were focused on retailing alone.

“And marketing is not about selling alone. It involves branding, product development, packaging and others,” said Amin.

Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) national council member Leong Kai Hin meanwhile said:

“It’s good that the government will continue to subsidise basic essentials. It will help curb inflation.

On the increased employers contribution for the Employers Provident Fund (EPF), Leong said the decision would help employees to have more savings when they retire.

“It’s a step towards turning the country into becoming a high income economy,” he said.

Malaysian Associated Indian Chamber of Commerce and Industry (MAICCI) president KK Easwaran said the budget was meant for al Malaysians .

“All parliamentarians, including those from the opposition, will get better allowances come January 2011. This proves that Najib is truly an inclusive premier for all,” he said.