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FEBRUARY 17 ― The decision by the Monetary Policy Committee (MPC) of Bank Negara on January 20, 2022 to hold the overnight policy rate (OPR) at 1.75 per cent (in continuity with its decision on November 3, 2021) is surely the correct policy stance. However, Bank Negara could have gone further by.
04 May 2021 / 14:53 H. Bernama
KUALA LUMPUR: The government should consider implementing a windfall tax on industries that benefit greatly from the Covid-19 crisis, according to Khazanah Research Institute senior advisor Professor Dr Jomo Kwame Sundaram (pix).
“This is precisely the time when you must reform taxes, as you have it (windfall tax) all the time amid extraordinarily high petroleum prices or palm oil prices.
“Why not for other types of industries?” the prominent economist said at a panel discussion held in conjunction with the World Bank Group’s webinar titled “Aiming High: Promoting Inclusion and Financing Shared Prosperity” today.
Asked when is the right time to re-introduce the Goods and Services Tax (GST), Jomo opined that now is the best time to introduce taxes that do not generate revenue immediately, as many were badly impacted by the pandemic.