LETTERS: THE prime minister should reimplement the Goods and Services Tax (GST) at a lower rate, say, five per cent, since many economic analysts have expressed dissatisfaction with the proposed 2.0 per cent increase in the Sales and Service Tax.
Bear in mind that the PM has another four years to fix the economy before a general election is due.
Once GST is reimplemented, it won't take long to attract more foreign direct investments (FDI) and huge foreign funds to return to Bursa Malaysia.
The enhanced confidence in our economy, coupled with the inflow of foreign funds brought about by the reintroduction of the GST, will bode well for the stability of the ringgit.
We need to lower the corporate tax rate to attract more FDI. We also need to lower the income tax rates so that we can arrest brain drain and attract professionals, who have migrated, back to our shores.
The prime minister mustn't hesitate to implement unpopular but sound policies to fix the economy. Reimplementing GST won't be a big issue to many Malaysians as long as the improved economy can create enough jobs with better prospects of earning a higher income.
Many Malaysians are aware of the great danger of a huge national debt and an unstable ringgit.
Let's not forget that a large number of Malaysians are knowledgeable and wise enough to decide whom to vote for.
In 2022, the people decided to give Datuk Seri Anwar Ibrahim the mandate to lead the country not because he is a conformist but a reformist.
PATRICK TEH
Ipoh, Perak
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times