KUALA LUMPUR: There is no intention at the moment to re-introduce the Goods and Services Tax as a means of supporting the government's coffers, says Deputy Finance Minister II Mohd Shahar Abdullah"On whether we will reintroduce the GST, the Ministry of Finance is focusing on three things; to take care of the health of the rakyat, to ensure economic recovery and resilience.
Mohd Shahar said the government is also focusing on improving governance and has set up a multi-agency task force to better manage finances while plugging leakages. On Fitch's recent downgrade of Malaysia’s sovereign rating from A- to BBB+, he said it was not a crisis as the downgrade was not due to internal factors or economic fundamentals.