When a country’s debt becomes too high and it faces challenges in repaying it, governments must make tough decisions to cut back on public spending, particularly focusing on eliminating misallocated funds. Cutting back to zero misallocation is critical to ensure that public resources are used efficiently and to prevent the debt burden from spiraling out of control.
Zero Misallocation of Scarce Resources (getting more and more scarce inevitably): Borrowing money, particularly from science-driven wealthy countries, to fund non-productive sectors like religious teaching in public schools diverts crucial resources away from essential economic areas. When a country is already reliant on loans, every borrowed dollar should be allocated towards sectors that stimulate economic growth, such as science, technology, infrastructure, and education aimed at future workforce needs. Investing in religious teaching, which does not directly contribute to job creation, innovation, or productivity, is an inefficient use of borrowed money.
More Rational Education Funding (Aligned with Debt Repayment Initiative): The funds used for religious teaching could otherwise be spent on enhancing STEM (Science, Technology, Engineering, Mathematics) education, which directly contributes to innovation, research, and industrial growth. For example, countries that prioritize STEM education see far greater returns in terms of job creation, technological development, and overall competitiveness on the global stage. Diverting resources away from these areas hampers national progress in innovation-driven fields.
Chapter: Removing extravagant public official perks
Zero-budget allocation for overseas trips until the country's debt is under control would reflect the government's commitment to financial prudence and addressing public concerns about wastage and corruption. By redirecting these funds to more pressing national needs, Malaysia could move towards more responsible and transparent governance, setting a positive example for other areas of fiscal reform.
More Affordable Alternative Solutions Until Country Debt is Totally Paid Off: With advances in technology, study tours and international collaborations can be carried out virtually, at a fraction of the cost. Webinars, virtual meetings, and online conferences provide platforms for learning and international cooperation without the need for expensive travel.
When a country’s debt becomes too high and it faces challenges in repaying it, governments will take an easy way out of increasing tax so won't be surprise the return of GST and new capital gain tax.
ZERO Overlapping Agencies By Streamlining Malaysia's Government
In Malaysia, unnecessary government agencies with overlapping functions lead to inefficiencies, resource wastage, and poor service delivery. The duplication of roles across agencies creates confusion, hinders decision-making, and increases bureaucratic red tape, often slowing down public services. This issue also contributes to unnecessary public spending on administrative costs, salaries, and infrastructure, straining the national budget and exacerbating the country’s debt problem.
Key sectors such as public health, education, housing, and SME development often see multiple agencies with similar functions, leading to fragmented approaches and accountability issues. For example, the Ministry of Entrepreneur Development and Malaysian Industrial Development Finance (MIDF) offer similar services, while both the National Housing Department and local authorities oversee housing projects, causing inefficiencies.
Calls for reform have urged the consolidation of these agencies to streamline government operations. In 2019, the Public Service Reform Committee identified numerous agencies for potential mergers or abolition. Consolidation would save operational costs, improve coordination, and enhance accountability. Countries like Singapore and South Korea have successfully reduced government redundancies, improving efficiency and economic outcomes. For Malaysia, tackling this issue is vital for better governance, reducing the national debt, and fostering economic growth.
Fully support ZERO intiatives! MPs pension should be capped at certain limit regardless how many positions held and duration should be only at 60 above, not just 2-3 years, boleh pencen but the rest are made to work till 55 or 60. Waste of money on useless MPs. MPs also should not getting half pension from each positions held. Some MPs are getting RM100K+ in pensions per month!
About the EPF saving concerns, so maybe all those exorbitant pensions can go to fund the aging population. Khazanah Research Institute said in the report --> "It also assumes that Malaysians only use RM1,000 per month for 20 years.", so RM1K is enough to survive per month, so ALL MPs pensions and salaries do not need RM10K above? Is this really enough? I think reality is not that. KRI report has problem, but this is Malaysia Bolehland...
Kepimpinan melalui teladan: Cap their monthly take home @ RM1k.....hehe
Posted by eastern_joy > 6 minutes ago | Report Abuse
About the EPF saving concerns, so maybe all those exorbitant pensions can go to fund the aging population. Khazanah Research Institute said in the report --> "It also assumes that Malaysians only use RM1,000 per month for 20 years.", so RM1K is enough to survive per month, so ALL MPs pensions and salaries do not need RM10K above? Is this really enough? I think reality is not that. KRI report has problem, but this is Malaysia Bolehland...
Members of Parliament (MPs) in Malaysia should cap their monthly take-home pay at RM1,000 to set an example of "kepimpinan melalui teladan" (leadership by example)
@EngineeringProfit "When a country’s debt becomes too high and it faces challenges in repaying it, governments must make tough decisions to cut back on public spending, particularly focusing on eliminating misallocated funds."
slowly dream, the government will tax you until mother also cannot recognize.
I am waiting to see one leader who possess wisdom and open minded from UMNO to harmoniously bring its people together to make UMNO stronger and bigger and even he will bring all Malaysian in all races together to make Malaysia more prosperous and stronger in term of economically stronger, technology more advancement, more socially harmonious etc And perhaps this person may not be necessarily from UMNO but other political party instead, And obviously this person is not Akmal, not Lim Guan Ying, not Wei Ka Xiang, Not Muhhidin, Not Awang Hadi etc either, and not to say DrM as this DrM was/is the beginner of the poison of current Malaysian political and socially devided. Will see who and when this person emerge…
Kepimpinan melalui teladan: Cap their monthly take home @ RM1k.....heh e ?
So that only true politician with the heart to serve the people will join politics。Must be enshrined in constitut ion or else Cap their monthly take home @ RM1k..... Will be revoked by greedy politicians。Pmx also work without pay!
ZERO use of foreign universities or experts for policy research to eliminate outsourced consultancy fees - use local experts and professors, or fire them if they are useless
ZERO wastage of higher education fund diversion to many peninsular states that suffer from overrsupply of graduates and post grads; coupled with serious mismatching of academic qualification and job scope
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by EngineeringProfit > 2024-09-26 09:11 | Report Abuse
When a country’s debt becomes too high and it faces challenges in repaying it, governments must make tough decisions to cut back on public spending, particularly focusing on eliminating misallocated funds. Cutting back to zero misallocation is critical to ensure that public resources are used efficiently and to prevent the debt burden from spiraling out of control.