Govt plans to table 12th Malaysia Plan early 2021

The plan is currently being reviewed considering the drastic and sudden changes in the country’s economic landscape following the pandemic


THE government is expected to table the 12th Malaysia Plan (12MP) in Parliament early next year after considering the impact of the Covid-19 crisis on the country’s economy.

However, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed (picture) said the exact date of the tabling is yet to be decided.

He said the plan needs to be reviewed considering the drastic and sudden changes in the country’s economic landscape following the pandemic.

“We must take into account the way we work, as the approach to business has also changed. Those aspects need to be given attention and reviewed,” he told reporters at the launch of MyPay’s digital financing and e-wallet in Kuala Lumpur last Friday.

The minister stressed that the way people work and conduct businesses have mostly shifted to the digital platform.

He said the Economic Planning Unit would revamp the 12MP according to the current conditions, to ensure that the country’s economic growth is on the right track.

The 12MP was initially scheduled to be tabled next month.

Meanwhile, on the launch of the MyPay’s e-wallet, Mustapa welcomed the initiative and hope that it would indirectly increase the e-wallet usage in the country.

“Malaysians seem to be adapting well to the ‘new normal’.

“In addition to growing public confidence in resuming their daily lives, there was also a marked increase in ventures into the digital space,” he said.

He hoped that the Public Private Partnership (PPP) would be intensified to leverage on what the information technology (IT) sector can offer.

“The government’s digital agenda also aims to empower consumers, especially the rural and suburban communities so they are not left behind,” he added.

The MyPay e-wallet is a collaboration between DAPAT Vista (M) Sdn Bhd, National Higher Education Fund Corp (PTPTN), Bank Islam Malaysia Bhd, and Fass Payment Solutions Sdn Bhd.

The collaboration is to expand MyPay’s capabilities through online payment services, digital financing and integration with a secure e-wallet.

DAPAT Vista CEO Sabri Rahman said it is targeting as many users as possible to download and use the MyPay e-wallet digital payment.

“So far, we have offered 30 services including PTPTN’s loan repayment, Royal Malaysian Police summons, Road Transport Department, utility bills and zakat payment.

“In the future, we will be adding more services in terms of financing applications, as well as the opening of bank accounts with Bank Islam,” he said.

He added that as DAPAT Vista evolved from messaging solutions to mobile payments via MyPay, PTPTN has become one of the pioneer agencies, which has made the transition together in the digital paradigm shift.

PTPTN had recently transitioned from SMS to MyPay’s mobile payment system for its education loan repayments and National Education Savings Scheme.