Zeti: We'll announce how we intend to abolish GST within 100 days
Zeti, who sits on the Council of Eminent Persons, says the method of abolishing the GST will be made known within 100 days and if it needs parliamentary approval, this will be sought.VIDEO INSIDE
KUALA LUMPUR: Former Bank Negara Malaysia (BNM) governor Zeti Akhtar Aziz said the government will announce how it will eventually abolish GST before the 100 days are up.
âWe will announce how we intend to do this, either by zerorising it or in whatever other process it will be done. We will announce the strategy and if it requires any process, it will take time,â she told reporters when met at Sasana Kijang, the centre of knowledge and learning excellence established by BNM, here today.
Zeti, who is one of five people sitting on a Council of Eminent Persons to as sist the new Pakatan Harapan government, assured that the GST would be abolished.
âItâs been decided. So now itâs only a matter of how it will be done, for instance if we zerorise it from 6% it will become 0%. We do not know yet how it will be done but it will be done.
âTun Mahathir has mentioned many times that we will follow the rules and processes that exist in our country and will not deviate from it when trying to implement these changes.
âWhat we will do, well within the 100 days, is make an announcement of what we want to do and then it will be done following its process, whether it has to go through Parliament for approval.â
She said the ultimate objective was to put money in the hands of the middle and lower classes.
Zeti does not believe there will be a credit downgrade with the abolishment of G ST.
â(It wonât happen) As long as our fiscal position improves, which is what we are working towards. Fiscal positions can be improved from the revenue side as well, so there will be a reprioritisation of projects and there will be efforts to increase government efficiency and reduce wastage in the public sector.
âThis will improve the fiscal position and when it improves then we will get a better rating.â
Source: Google News