10 March, 2009

When the Going Gets Tough, the Tough Get Going

When the going gets tough
The tough get going, tough, tough, huh, huh, huh
When the going gets tough, the tough get ready

Yeah, ooooh, du da do da

I got something to tell you
I got something to say
I'm gonna put this dream in motion
Never let nothing stand in my way
When the going gets touch
The tough get going

I'm gonna get myself 'cross the river
That's the price I'm willing to pay
I'm gonna make you stand and deliver
And give me love in the old-fashion way

Woooh

Darlin', I'll climb any mountain
Darlin', I'll do anything

Ooh, can I touch you (can I touch you)
And do the things that lovers do
Ooh, wanna hold you (wanna hold you)
I gotta get it through to you, oooh

When the going gets tough
The tough get going
When the going gets rough
The tough get rough
Hey, hey, hey, hey, hey
Ooooh baby

I'm gonna buy me a one-way ticket
Nothin's gonna hold me back
Your love's like a slow train coming (slow train coming)
And I feel it coming down the track (woh)

Darlin', I'll climb any mountain
Darlin', I'll do anything
Ooh (ooh) can I touch you (can I touch you)
And do the things that lovers do
Ooh, (ooh) wanna hold you (wanna hold you)
I gotta get it through to you (ooh)
'Cos when the going gets tough
The tough get going
When the going gets rough
The tough get rough

Yeah, yeah, yeah, yeah, yeah
Wooh, yeah, yeah, yeah, yeah

Darlin', I'll climb any mountain
Darlin', I'll swim any sea
Darlin', I'll reach for the heaven
Darlin', with you lovin' me
Oooh (oooh)

Oooh, can I touch you (can I touch you)
And do the things that lovers do (can I touch you)
Oooh, wanna hold you (wanna hold you)
I gotta get it through to you

When the going gets tough
Going gets tough
Going gets rough
Going gets rough...

- Billy Ocean ( Source )

The government today unveiled its second economic stimulus package totalling RM60 billion, comprising initiatives and ideas to invigorate vital sectors to maintain the people's welfare and prosperity in the face of the global economic downturn.

Deputy Prime Minister and Finance Minister Datuk Seri Najib Tun Razak, when tabling the package in the Dewan Rakyat, said it would be implemented over two years -- 2009 and 2010 -- and would have four thrusts.

These were reducing unemployment and increasing employment opportunities; easing the burden of the people, in particular the vulnerable groups; assisting the private sector in facing the crisis; and building capacity for the future, he said.

Najib said the government would continue to implement appropriate measures to strengthen the confidence of the people and ease the burden, particularly of the vulnerable groups.

"In view of the deteriorating global economy, the Second Stimulus Package is significantly larger and more comprehensive, encompassing various economic sectors and target groups.

"This includes workers, consumers, investors, small and medium businesses, exporters and unemployed graduates," he said.

Najib, while being open about the severity of the global economic prospects, said he was confident that Malaysia would be able to face this difficult and challenging environment with the spirit of unity among the people, just as the country had successfully overcome several crises in the past.

He said Malaysia could not depend on orthodox economic recovery policies, but must be bold in formulating innovative approaches to deal with the crisis.

"There have been increasing calls by the people for the government and the opposition to set aside political differences and focus on the economy.

"I personally acknowledge these calls and, therefore, urge all parties, from the government and opposition to focus on the economy and the people," he said, inviting the opposition to work together in the effort.

"There are high hopes, when faced with an economic storm, for us to always work together and think of doing the best for the people," he said.

Najib announced the package, regarded as a mini budget, when tabling the Supplementary Supply Bill 2009 for second reading in the Dewan Rakyat.

On Nov 4 last year, the government announced the First Stimulus Package totalling RM7 billion which, according to Najib, was being actively implemented and RM6.5 billion of which had been channelled to projects.

The second package also gives special focus to the people of Sabah and Sarawak, particularly in the provision of infrastructure for which RM1.2 billion is to be allocated to increase economic activities.

Projects and programmes to be implemented in Sarawak include the expansion of the Sibu Airport, deepening works at Miri Port, repair and improvement of infrastructure damaged by floods and upgrading of schools.

In Sabah, the main programmes and projects to be implemented include the Kota Kinabalu Electricity Transmission System, upgrading of schools, roads and bridges, and resolving issues related to health services at the Queen Elizabeth Hospital.

In his speech of an hour and 15 minutes, Najib acknowledged that Malaysia now faced an extremely challenging economic environment in the context of the difficult global economic scenario, and said that the country's Gross Domestic Product (GDP) was expected to be in the range of negative one per cent to one per cent for 2009.

Najib said that though developed countries had announced large economic stimulus packages exceeding US$3 trillion, including substantial amounts to bail out their financial institutions and large corporations, these measures had yet to restore consumer and investor confidence.

He said the United States, the world's largest economy and trading nation, was expected to experience a contraction of 1.6 per cent, the United Kingdom 2.8 per cent, Japan 2.6 per cent, South Korea negative two per cent, Taiwan negative four per cent and Singapore negative 4.9 per cent.

"In fact, Singapore's Minister Mentor (Lee Kuan Yew) envisaged that Singapore's economy might contract 10 per cent this year," he said.

Najib said Malaysia had to accept the fact that as a highly open economy it was likely to be impacted through declining exports in line with deteriorating world demand; sharp decline in the prices of commodity exports; decline in Foreign Direct Investment (FDI) in line with the global recession; and significant decline in Bursa Malaysia due to the global meltdown in equity markets.

To handle the unemployment situation, allocation would be channelled towards creating 163,000 training and placement opportunities in the public and private sectors, sponsoring the cost of Masters and doctorate studies as well as providing tax incentives to employers who engage retrenched workers.

Najib said the government would recruit 63,000 staff to fill vacancies, including 13,000 jobs for contract officers.

Other employment opportunities were recruitment of 4,000 officers on short-term service; 1,000 graduates as contract school teachers; 800 contract workers to strengthen the implementation of "Program Cari" under the Ministry of Women, Family and Community Development; 1,000 contract public health assistants; 4,500 contract enumerators in the Statistics Department for the population census; and 1,700 nurses and health support staff.

Najib said staff on the short-term service with a minimum qualification of Sijil Pelajaran Malaysia (SPM) would receive a monthly salary of RM1,200 while contract graduate teachers would be paid RM2,000.

- Bernama


Can RM50 billion stop us from sliding into recession ? May be not !

And most importantly, the consensus among Prime Minister Datuk Seri Abdullah Ahmad Badawi, Najib and other members of the Cabinet was that bad news should be managed well to prevent a plunge in consumer spending.

A senior government official told The Malaysian Insider: “The view was that Malaysians are by nature a pessimistic group and could overreact, making the recession a self-fulfilling prophecy.”

Not everyone in the government agreed with this approach but as long as Abdullah and Najib kept to this line, others followed suit, regardless of how ridiculous it made them sound...


More importantly, when the Deputy Prime Minister, table the mini budget today, he needs to impress upon Malaysians that it is time to reduce the politicking as this is a time to save jobs, put food on the table and keep the economy from going down under.

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