Dewan Rakyat passes five motions tabled by Finance Ministry

KUALA LUMPUR, June 15 — The Dewan Rakyat today passed five motions tabled by the Finance Ministry involving government funding and taxation.

Deputy Finance Minister I Datuk Seri Ahmad Maslan, when tabling the motion for the Malaysian Government Investment Issue Money Transfer, said the transfer would involve the remaining proceeds amounting to RM27 billion from the MGII until the end of May 2023 under section 3 of the Government Funding Act 1983 to the Development Fund.

“Section 4 of the Government Funding Act 1983 provides that receipts from MGII can only be transferred to the Development Fund after obtaining the approval of the Dewan Rakyat with a resolution,” he said. As for the Windfall Profit Levy Order, Ahmad Maslan said the order would be imposed on oil palm fruit production in Peninsular Malaysia, Sabah and Sarawak at a rate of three per cent.

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