KUALA LUMPUR – As part of its efforts to improve the annual budget preparation process, the Ministry of Finance (MOF) has agreed to publish four public consultation papers (PCPs) and invite the public to share their ideas for Budget 2022, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said, reported Bernama.
He said the PCPs are set to complement the Pre-Budget Statement issued recently. “For a start, four public consultation papers will be published to obtain inputs towards Budget 2022,” he told a press conference here on September 3.
The four PCPs are Improvement of the Government Procurement Policy on Local and Goods/Services and Procurement Policy for the Bumiputera, Improvement of Cash Assistance Programmes, Review of Tax Incentives, and Drafting of the Fiscal Responsibility Act (FRA).
The first paper outlines proposals to improve the use of local goods/services and the affirmative policy for Bumiputera companies.
Tengku Zafrul said Improvement of Cash Assistance Programmes aims to identify the needs of the rakyat as well as current gaps and issues in delivering assistance to them, especially in light of the challenges posed by the pandemic.
On Review of Tax Incentives, he said it provides a review on the overall investment tax incentive framework to ensure that incentives for investors remain relevant in the current business landscape.
Meanwhile, Drafting of the FRA aims to improve governance, transparency and accountability of the country’s fiscal management, including the management of revenue, expenditure, debt and fiscal risks as well as the publication of pre-budget and post-budget reports, economic forecasts and the Medium-Term Fiscal Framework.
Queries or requests for additional information can be submitted via email to: [email protected]. The PCPs can be downloaded from and feedback submitted to www.mof.gov.my latest by 5.00 pm on Sept 15, 2021.