KUALA LUMPUR, Feb 5 — Bagan MP Lim Guan Eng has called on the government to introduce extra tax reliefs and enforce local procurement rules to ease economic pressures on the middle class (M40) and small businesses (SMEs). Speaking in Parliament, he warned that rising living costs, global trade tensions, and economic uncertainties are “pushing the M40 group and SMEs to the brink.”
KUALA LUMPUR, Feb 5 — Bagan MP Lim Guan Eng has called on the government to introduce extra tax reliefs and enforce local procurement rules to ease economic pressures on the middle class (M40) and small businesses (SMEs). Speaking in Parliament, he warned that rising living costs, global trade tensions, and economic uncertainties are “pushing the M40 group and SMEs to the brink.”
His proposals include an additional RM10,000 tax relief for SMEs and RM5,000 for individual taxpayers and a requirement for foreign investors to source at least 50 percent of their supplies locally. Citing Indonesia’s 70 percent local sourcing rule as a model, Lim said this would help domestic industries create jobs and expand.
Lim also urged a phased approach to the planned 14 percent electricity tariff hike—implemented in two stages of 7 percent—so businesses aren’t hit with sudden cost increases. He pressed for delaying the luxury tax to boost tourism and called for a postponement of floating RON95 fuel prices to prevent spiralling inflation.
He noted Malaysia’s two-tier economy, where successful industries benefit from incentives while traditional sectors struggle, and stressed that decisive measures are needed now to protect SMEs and middle-class families from further economic shocks.
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