Kuala lumpur: The government is actively implementing a range of revenue enhancement measures, which include revising tax rates, broadening the revenue base, and improving tax administration. These initiatives are aimed at reducing revenue leakage through digitalization, according to the Ministry of Finance (MoF).

According to BERNAMA News Agency, the MoF stated that the government has also introduced several measures to enhance spending efficiency. This includes targeted fuel subsidies to minimize leakage, restructuring public spending, and improving transparency in government procurement through the enactment of the Government Procurement Act, which is expected to contribute to more efficient spending.

In an effort to manage risks associated with contingent liabilities and increasing financial commitments, the government has established a financial guarantee exposure limit of 25 percent of the gross domestic product through Act 850. The MoF is also assessing the implementation of mega projects that may increase the government's financial commitments.

The MoF noted that any new projects requiring significant financial resources will be evaluated based on the government's medium-term financial capacity. Additional measures include rationalizing the implementation of projects via public-private partnerships, focusing on a user-based payment model to mitigate direct financial commitments from the government, aligning with the objectives of the 13th Malaysia Plan.

The government also plans to enhance the management and governance of government-linked companies by proposing relevant legislation aimed at strengthening corporate governance, increasing accountability, and optimizing company operations in line with their foundational mandates.