Better prevent disasters than pay the costs, says finance minister

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Tengku Zafrul Aziz says prevention of disasters is better than a cure.IPOH: The government will study and redefine the context of socio-economic and environmental sustainability in its post Covid-19 economic recovery framework. Finance Minister Tengku Zafrul Aziz said the study would encompass aspects of legislation, policies, education and awareness programmes to warrant a balanced development and the people’s well-being. He said: “Many people consider sustainable practices as an unnecessary cost without realising that these can reduce far higher costs caused by external factors. Currently, the yardstick for a successful business does not take into account the impact or cost to the environment and society holistically. Awareness on this matter is still low and needs to be raised.” In a statement issued after attending a 2021 Budget consultation here, he said a sustainable busine…