The National Transformation Programme (NTP) has benefitted millions of Malaysians since its inception in 2010.
Through this programme, the government has recorded numerous successes in elevating the socio-economic status of the people.
Prime Minister Datuk Seri Najib Razak said the country was well on its way to meeting its goal of eliminating the middle-income trap and spurring the country to high-income status by 2020, as seen in the narrowing of the gap between the country’s gross national income (GNI) per capita and the World Bank’s high-income threshold, from 33 per cent in 2010 to 20 per cent last year.
He added that, Malaysia was experiencing its fastest rate of growth, outpacing Singapore, Indonesia, South Korea and Taiwan.
Measures such as the rationalisation of non-targeted, blanket subsidies and the implementation of the Goods and Services Tax, although tough, were necessary and have shown results – the country’s fiscal deficit was reduced from 6.7 per cent in 2009 to three per cent last year.
Government debt stood at 51 per cent of GDP last year, safely below its self-imposed ceiling of 55 per cent, while poverty has been reduced to 0.6 per cent.
Najib said these actions had also improved the government’s capacity to invest in social development, focusing on the people’s needs and channelling aid to those who need it the most.”
This can be seen in the 1Malaysia People’s Aid or BR1M, which helps alleviate the rising cost of living.
Under the NTP, 2.6 million jobs were created, while for the lower income group, the government has introduced the minimum wage policy which will lift the income of 2.9 million people when it comes into effect.
People have also benefitted from the vast improvement in public transport. The Mass Rapid Transit has helped to ease connectivity and improve travelling for more than 100,000 commuters in the Klang Valley, providing fast, reliable and environmentally-friendly public transport.
Economists have found the NTP achievements to be encouraging and lauded the efforts which produce economic and social benefits to target groups, making sure that the country is on track towards becoming a high-income nation by 2020.
In the rural areas, the livelihoods of rural communities have been improved with new roads and public housing.
Under the NTP 6,868km of roads had been upgraded and built, allowing 3.7 million villagers to travel in comfort.
Some 354,400 households involving 1.8 million people had water supply and the total coverage reached more than 90 per cent of Malaysians.
As for electricity, 161,931 households with 809,655 people in rural areas enjoy power supply, or total a coverage of 98.9 per cent.
By last year, 103,033 houses were built or repaired to improve the living standards of 515,170 people, the report stated.
These initiatives and more, will enable all Malaysians to contribute and share in the wealth of the country.