Socio-economic, environment emphasis in Budget 2021 - Tengku Zafrul

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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 Tengku Abdul Aziz said the study would encompass aspects of legislation, policies, education and awareness programmes to warrant a balanced development and for the people’s well-being. “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,” he said in a statement after attending the ministry’s Budget 2021 consultation roadshow in Ipoh, today. He said a sustainable business should be strategically pla…