Economic Recovery Noteworthy But Industriousness Key To Continued Survival-BERNAMA

Source:
http://www.bernama.com/bernama/v5/newsindex.php?id=478152


A news analysis by M. Saraswathi

KUALA LUMPUR, Feb 26 (Bernama) - Malaysians can now heave a sigh of relief with the economy on an upward path, having expanded by 4.5 per cent in the last quarter of last year after three consecutive contraction quarters.

Rather than celebrating, it will be wise for the people to exercise prudence, while increasing their industriousness amid external uncertainties for an economy that is invariably tied to regional and global economy.

In short, we are not out of the woods yet for economics is a dynamic phenomenon which from to time does not fail to spring surprises much to the chagrin of policymakers.

Nevertheless, it is noteworthy that all sectors -- manufacturing, services and construction, except mining, chalked up strong positive growth.

Undoubtedly, this is largely attributable to the spillover of the RM67 billion stimulus package under which 113,000 projects have been or are being implemented, bearing fruit indeed.

The construction sector seems to be an obvious recipient, being the highest growth sector, expanding by 9.2 per cent year-on-year compared with a 7.9 per cent growth in the third quarter.

Further evidence of the economy on the right path is the pick up in container movements at major ports, thousands of jobs are created in the manufacturing sector and listed entities reporting better corporate earnings.

The stock market saw greater interest with rising volume and the index hovering at 1,270-point level.

Figures released by the government showed exports have started to rise while more foreign firms are eyeing listing on the stock exchange.

Credit should go to the government in unveiling the two packages relatively quickly as pre-emptive measures to mitigate adverse effects of a global economy reeling from the onslaught of the U.S. credit crunch.

On the average, the government has pumped about RM1 billion per month into the market since January 2009, which is no easy feat.

Other factors are also raising sentiments and economic optimism.

Earlier this month, a Malaysia-Chinese joint venture aluminium smelting plant in Sarawak was formalised, involving an investment of US$1 billion, clearly reflecting the confidence of Asia�s biggest economic power has in investing in a big way in Malaysia.

Saudi Arabia's institutional portfolio funds are also teaming with Malaysian parties to invest in the economy and third countries, which yet again gives a positive sign to the investment climate in Malaysia.

Hopefully, this will mark a further indicator in the country's path towards rapid and sustained economic recovery.

What was far-sighted was that the stimulus packages encompassed diverse economic and target groups, including workers, consumers, investors, small-and medium-sized businesses, exporters and unemployed graduates.

The government�s measures were also designed to benefit the rural folk, again proving that while the government was focused to grow the economy, it never forgets the people's welfare.

After all, the people are a valuable resource in a nation's endeavour to redeem herself from recession and move forward without too many casualties.

For this year, growth is projected at more than five per cent -- higher than the four per cent projected earlier, thanks to the pro-active measures put in place by Prime Minister Datuk Seri Najib Tun Razak.

The prime minister's visits to key economies like China, India and the Middle East to woo much-needed investments are beginning to pay dividends, with investors from these countries now making inroads into the local economy.

However, the extent of Malaysia�s recovery also depends on the health of regional and global economies as external economies will decide the demand for the country�s exports and more so Malaysia is an export-driven nation.

Still, we are well placed to achieve an average six per cent growth a year and attain developed nation status by 2020.

But now the real challenge begins -- to maintain and boost growth.

The much-awaited and long-overdue New Economc Model (NEM) is expected to have the answer with bold measures that will ensure Malaysia makes the quantum leap to a high-income country.

Najib, who is also Finance Minister, is to unveil NEM end-march.

Hopefully, it comes with solutions to the never-ending subsidy issue and how the government plans to reduce the budget deficit, expected to shrink to 5.6 per cent this year from 7.4 per cent last year.

The economic model will incorporate ideas on improving the country�s economic standards and propel Malaysia from a middle-income country into a high-income nation.

One thrust of the model is how to increase workers� productivity through their own efforts via innovation and creativity.

But more than the blueprint itself is the speed of execution of NEM is what will ensure the country�s economy not only remains on the growth path but also is able to weather any kind of storm that awaits us.

The resilience of the domestic economy and healthy corporate and financial sectors plus the NEM will ensure Malaysia is well prepared to seize the opportunities when the global economy recovers.

-- BERNAMA

Sebahagian Besar Industri Berkembang Dengan Kos Palsu-BERNAMA

Source: http://www.bernama.com/bernama/v5/bm/newsindex.php?id=478194



Analisis Berita Oleh Massita Ahmad

PUTRAJAYA, 26 Feb (Bernama) -- Kos pengeluaran dan operasi sebahagian besar industri di Malaysia boleh dikatakan "kos palsu" kerana sejumlah besar elemen kos tersebut merupakan subsidi yang ditanggung kerajaan, demikian menurut mereka yang arif dalam perkara tersebut.

Golongan pengeluar sewajarnya berasa "malu" apabila mengatakan mereka mengaut keuntungan tetapi pada dasarnya sebahagian besar kos mereka ditanggung pihak lain iaitu kerajaan.

Apatah lagi jika gagal, kerana ditanggung kerajaan pun mereka tetap gagal.

Mengambil contoh gas, sebahagian besar industri berubah kepada penggunaan gas bagi menjalankan aktiviti pengeluaran produk mereka berikutan harga yang lebih murah berbanding diesel.

Walhal kedua-duanya disubsidi oleh kerajaan dan yang membezakannya adalah lebih tinggi atau rendah jumlah subsidi itu.

Harga gas yang disubsidikan bagi sektor tenaga adalah RM10.70 setiap juta unit termal British (mmbtu), pengguna terbesar RM15.35/mmbtu, dan Gas Malaysia Sdn Bhd RM11.05/mmbtu.

Harga tanpa subsidi atau harga pasaran gas ketika ini bagi sektor tenaga adalah RM41.16/mmbtu, pengguna terbesar RM56.20, dan Gas Malaysia RM42.35/mmbtu.

Bagi diesel pula, harga diesel bersubsidi bagi nelayan dan pengangkutan adalah RM38.65/mmbtu atau RM1.43 seliter dan harga di pam ialah RM45.95/mmbtu atau RM1.70 seliter.

Harga pasaran bagi diesel ketika ini adalah RM55.00/mmbtu.

Melihat angka-angka ini, pihak industri pasti boleh membezakan harga gas bersubsidi yang mereka "nikmati" selama ini.

Golongan sasar bagi subsidi seperti para nelayan pula pasti "menggelengkan kepala" melihat betapa rendahnya subsidi yang mereka terima jika dibandingkan sebahagian besar industri itu.

Kerajaan dianggarkan menanggung beban bagi subsidi gas sahaja melebihi RM20 bilion pada tahun ini dan akan terus "menggunung" pada tahun-tahun akan datang sekiranya harga gas terus disubsidikan.

Lebih malang adalah jumlah subsidi yang pada awalnya berada pada sekitar RM7 bilion pada lima tahun lalu hanya dinikmati oleh sebahagian industri tertentu tetapi tidak oleh masyarakat keseluruhan.

Sebahagian besar industri ini mungkin "pura-pura" tidak sedar bahawa mereka sebenarnya tidak cekap dalam penggunaan bahan api atau komoditi tersebut dengan berterusan menggunakan gas berharga rendah "akibat" disubsidikan kerajaan.

Penggunaan gas berharga pasaran mungkin akan "menyedarkan" mereka ini untuk meningkatkan kecekapan dan berusaha untuk menjimatkan kos mereka dan seterusnya meningkatkan daya saing.

Berdasarkan Perjanjian Pembekalan Gas di antara Petronas dan pembeli (elektrik dan bukan elektrik), harga gas yang dibekalkan oleh Petronas disandarkan kepada harga minyak bahan api medium (MFO).

Umum mngetahui harga minyak di pasaran dunia meningkat sepanjang tahun lalu menjadikan harga MFO turut menghadapi trend yang sama.

MFO didagangkan sekitar AS$72 setong pada Disember 2009 berbanding AS$37 setong pada Mac 2009.

Semakin tinggi harga MFO, semakin tinggi juga subsidi yang perlu diperuntukkan kerajaan bagi sebahagian industri yang menggunakan gas.

Kerajaan terus dibebankan lagi untuk menampung subsidi berikutan permintaan gas daripada sebahagian industri tertentu yang juga semakin tinggi.

Petronas dikatakan menghadapi kekangan bekalan berikutan permintaan terhadap gas yang meningkat secara mendadak dan ini juga melebihi keupayaannya untuk membekalkan komoditi itu.

Tenaga Nasional Bhd turut menghadapi masalah untuk mendapatkan bekalan gas daripada Petronas dan ini telah memaksanya bertukar sebahagian penjanaan elektrik kepada arang batu.

Mungkin sudah tiba masanya bagi pihak kerajaan mendasarkan harga bahan api seperti MFO, diesel, gas dan arang batu kepada harga pasaran agar sebahagian industri tempatan akan mempunyai lebih banyak pilihan.

Dengan itu, pergantungan kepada bekalan gas tidak akan begitu tinggi atau keterlaluan kerana harga pasaran antara suatu bahan api dengan yang lain kemudiannya tidak akan jauh berbeza.

Sehubungan ini, sebahagian besar industri boleh memilih untuk menggunakan bahan api yang lain sekiranya bekalan gas tidak dapat dipenuhi.

Pilihan bahan api yang lebih luas akan mengurangkan tekanan ke atas permintaan terhadap sumber gas tempatan yang semakin menyusut.

Langkah atau dasar yang dicadangkan seterusnya akan membantu memanjangkan hayat rezab gas negara untuk kegunaan generasi akan datang.

-- BERNAMA

Tasik Kenyir