Last week, Malaysian central goverment unveiled another stimulus plan totalled RM60 billion, to spark the growth on our weaking economy. It’s pretty obvious now that we’re almost there or technically already there… in recession.

Whoever said our economy is in good shape, I don’t know  what in his mind.  Frankly speaking, something is wrong with him (or any hidden agenda). Among the indicator is our export to the US, which drop 27% this month, the worst since 1981. What’s more worrying other than seeing the worse come to worst?

I’m not financial savvy type of person, far from being an economist. Even standard 6 pupil know, 60 billion is a lot of $$, athough only $12 billion funded by goverment and the rest injected by private sector.  Bulk of the money are used to growth the SME by providing loan. And then there are incentive to business to reduce the burden because of drop in sales. And many more.

Personally, do you think you get anything from this package?

I’m working with foreign IT firm, that I doubt receive any incentives  from goverment on the recent stimulus plan.  The industry that I’m in , doesn’t spared from this crisis. Salary cut, no bonus, no increment is pretty common nowadays. At the same time the price of foods, goods and daily needs keep increasing, more than the increment that we have last year. Still grateful of what we have now, but we do expecting from the gov.

 I’m very much aware that, there are a lot more unfortunate peoples who lost their jobs, and part of the focus on stimulus plan is to help this peoples to get back their job. But I don’t think it is selfish to ask, where is our ‘share’?

Private sectors and people from middle class category used to get almost zero benefit from annual budget, stimulus plan and bla bla, when the fact is, we’re living in moderate way too. We still contribute to the country in the form of income tax, for return of almost nothing.

Yeah, I know I’m bragging too much, which is something I seldom do. It won’t get you anywhere, trust me. It just that, there is a hole on the system that need some fix.

Out of billions listed on the stimulus plan,there are 2 benefits that most people can enjoy it.

1. RM5000 rebate for for car-scrapping scheme
This scheme will allow you to enjoy RM50o0 if you trade in your more-than-10-years-old-working-condition car with Malaysian made car. We’re eligible, because of our 13 years old Daihatsu Charade that served us since 6 years ago. It was retired almost 2 years ago, and only serving us during the weekend for buying ‘nasi lemak’ as well as ‘jalan-jalan’ purpose, around our housing area.  Only if we did, we’ll enjoy that benefit, although my wife has sentimetal feeling on this car, as this is the car that brought us together.

2. The RM10,000 tax deduction for interest on housing loans.
We’re fortunate because we just buy a house, hence we’re eligible to enjoy this tax deduction incentive. 

So what else do you found for you? I’m still digging the stimulus plan, hope I can find more..