MALAYSIA Tanah Tumpah Darahku



10 APRIL 2024

Sunday, November 29, 2020

Tengku Zafrul not interested to join any party, to focus on economy


Not a politician and not keen to become one, banker turned Finance Minister Tengku Zafrul Abdul Aziz is steadfast in remaining a technocrat and ensuring that lives and livelihoods in the country are safeguarded amid the pandemic.

“I am not interested in joining any political party, as you know I am not a member of any right now,” he said when asked if he would eventually join politics and become an elected representative.

He said there is a lot of work to be done to shore up the economy and that is his focus now.

“I want to focus on how I think I can help towards Malaysia’s fight against Covid-19 and improve our economic standing. So, my focus is on the economy,” he told Bernama in an interview.

“So, I am not interested, for now, to join any political party,” he said, trusting his ability to build up the country's economy in the aftermath of the pandemic, without the need to be in politics.

Malaysia’s economy showed signs of recovery with a contraction of -2.7 per cent for the third quarter of 2020 compared with -17.1 per cent in the second quarter, as it took the brunt of the seven weeks of Movement Control Order (MCO) starting March 18 that was imposed to stop the spread of Covid-19.

Zafrul was sworn in as a senator on March 10 following his appointment as finance minister.

The government eased the MCO restrictions on May 4 and businesses were allowed to resume operations by sectors with strict standard operating procedures (SOPs). Following this, the unemployment rate declined to 4.6 per cent in September from 5.3 per cent in May.

Various economic stimulus packages were also announced, namely the Prihatin Rakyat Economic Stimulus Package (Prihatin), Prihatin SME+, National Economic Recovery Plan (Penjana), and Kita Prihatin (Prihatin Supplementary Initiative Package) worth a total of RM305 billion so far.

Coming from the corporate world, Zafrul recently received brickbats when he announced several new initiatives during his Budget 2021 winding-up speech.

He explained on Facebook that the initiatives were not his suggestions but those that came from the lawmakers themselves during the course of debates in Parliament.

”All the improvements that were announced were the outcome from proposals from the honourable Members of Parliament themselves - be it from the government or the opposition,” he said.

“For example, the proposal to extend the one-off special grant to the frontliners recognised under the National Disaster Management Agency (Nadma) was raised by, among others, YB Pontian, YB Ipoh Barat, YB Hulu Rajang, and YB Lembah Pantai – all from different political parties,” said Zafrul.

The decision to extend the aid was made after taking into account the arguments in Parliament such as the third wave of Covid-19 which is spreading rapidly and the implementation of the conditional MCO in several states.

So too is the improvement for the eBelia assistance programme, raised from RM50 to RM100, and expanded to 1.1 million students in institutions of higher learning (IPT) and private IPT.

"But for this good news, I have a confession – the government is not able to accept or implement all the proposals that had been raised.

"Like I said during the winding-up debate recently, the government’s role is always to balance the various interests – both in terms of cost implication, to ensure that the recipients really need them, (and) the implication on the market or the country's treasury ecosystem rating," he said.

He admitted that the balancing act is not easy but, nevertheless, when a collision of interests arises, the government will always prioritise the welfare of the people.


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