Tabung Harapan raises over RM7m in a day

By ALIFAH ZAINUDDIN / Graphic By TMR

The Tabung Harapan Malaysia raised over RM7 million in less than 24 hours after it was set up yesterday.

The trust fund, established on Wednesday, provides a centralised platform for Malaysians to help reduce the government’s RM1 trillion debt by contributing to the fund.

Finance Minister Lim Guan Eng said he is “humbled by the magnanimity” of the response and said Malaysians are beginning to truly show their patriotism through this initiative.

“This is truly a remarkable feat,” he said at a media briefing in Putrajaya.

According to Lim, young activist and law graduate Nik Shazarina Bakti — who initiated a crowd- funding movement to help repay the nation’s staggering debt sum — managed to raised RM13,476.57.

The sum was handed over to the Ministry of Finance (MoF) at the event.

“It is precisely this spirit of hope and unity which fuels the Pakatan Harapan government to fulfil its manifesto pledges,” he said.

Lim said the new government is committed to being transparent with every sen collected.

Thus, the amount will be updated daily on the MoF website, as well as on its social media platforms.

He said every Malaysian who donated to the fund can claim tax deductions.

“Malaysians who donate to this fund are advised to keep the transaction receipt as stated under Sub-section 44(6) of the Income Tax Act 1967,” Lim said.

The recent announcement of the country’s staggering debt and liabilities had prompted many Malaysians to express their readiness to contribute and help reduce the debt.

Lim said contributions made to the Tabung Harapan Malaysia is done on a voluntary basis.

“The rakyat wishes to contribute. This new government listens to the rakyat,” he said.

South Korea made a similar move during the Asian financial crisis in 1998.

The Thais also have a history of pooling their money together to support the state budget.