Najib: MRT project will proceed as planned
Posted on 3 September 2013 - 05:40am
PUTRAJAYA (Sept 3, 2013): Prime Minister Datuk Seri Najib Abdul Razak has given assurance that work on the mass rapid transit (MRT) lines 1, 2 and 3 will proceed as planned, and that the government is still in negotiations to build a high-speed rail (HSR) link between Kuala Lumpur and Singapore.
"There is no fixed timeline for the HSR project as it involves negotiations with the Singapore government and there are technical matters involved so we will come up with a schedule later on," he told a news conference at his office here yesterday, after the Fiscal Policy Committee (FPC) meeting which was chaired by the prime minister.
In its Economic Transformation Programme mid-year review last week, the Performance Management & Delivery Unit had said that the government was committed to fiscal reforms as well as the spacing out of public projects, especially those with low-multiplier effects and high import content to tackle the country's budget deficit and ease pressures on the shrinking current account surplus.
Najib said the FPC's assessment found that the external environment is increasingly challenging, thus the moderation in the current balance of payment, coupled with continued fiscal deficits pose medium-term risks to the economy.
"Hence, strengthening the fiscal position is vital to sustaining the resilience of the economy, as well as further enhancing public and investor confidence," he added.
Najib also said over the medium to longer term, the government will look at ways to enhance its competitiveness and further diversify its export markets.
"The above measures will not only address the immediate concerns of the economy and the government's financial position, but also strengthen public finances over the medium and long term," he said, adding that the FPC will continue to meet regularly to assess economic developments and the financial position of the government.
Publish date: 03/09/13