Page 127 - Malaysia Baharu 2018
P. 127
STRATEGY 1: 6 | MALAYSIAN ECONOMY
Strengthening Fiscal Administration
Restructured the approach to budget through ‘Zero-Based Budgeting’
To increase effectiveness, efficiency and higher cost-savings.
Budget allocations are provided through the assessment of the goals.
All discretionary spending is planned from zero.
The Government will table a Fiscal Responsibility Act by 2021
To avoid excessive spending that engenders mega debts.
The Government intends to table a new Government Procurement
To govern procurement processes to ensure transparency and competition.
Impose punitive action against abuse of power, negligence and corruption.
Implementation of open tenders would save taxpayers money and increase
the efficiency and competitiveness of the private sector.
Current cash basis of accounting shall be converted to an accrual basis by 2021
To ensure full disclosure of debts, liabilities and value of assets
125
Strengthening Fiscal Administration
Restructured the approach to budget through ‘Zero-Based Budgeting’
To increase effectiveness, efficiency and higher cost-savings.
Budget allocations are provided through the assessment of the goals.
All discretionary spending is planned from zero.
The Government will table a Fiscal Responsibility Act by 2021
To avoid excessive spending that engenders mega debts.
The Government intends to table a new Government Procurement
To govern procurement processes to ensure transparency and competition.
Impose punitive action against abuse of power, negligence and corruption.
Implementation of open tenders would save taxpayers money and increase
the efficiency and competitiveness of the private sector.
Current cash basis of accounting shall be converted to an accrual basis by 2021
To ensure full disclosure of debts, liabilities and value of assets
125
