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01:23 report the low interest rate, which is 12% from the GDP.
01:31 This percentage is much lower than the average rate reported by the countries with low interest rates,
01:41 which is 18% from the GDP,
01:46 compared to the countries with economic development.
01:53 The government's proposal to increase the sales and services interest rate from 6% to 8%
02:03 is considered an inaccurate measure compared to other more efficient distribution systems.
02:14 Although this increase does not involve food and drink,
02:21 it must be understood that this increase will give a chain effect
02:27 to all aspects that will further push the increase to other goods.
02:34 This is because the traders will not absorb the interest rate and their export costs.
02:41 I am once again convinced that it is time for the government to reconsider the GST
02:57 that was imposed in 2018 by the Government of the Hope Alliance.
03:03 The GST has proven to be much more accurate, transparent and fair than the SST.
03:12 When the GST was abolished, our country lost 20 to 30 billion dollars a year
03:25 due to the black economy that could be implemented.
03:30 We have observed the payment of interest and we expect many people to not pay interest
03:40 as they should.
03:43 The increase in the SST interest rate of 2%
03:49 adds 3 billion dollars to the country.
03:53 Even the international audit firm, Deloitte, has observed that the increase of 2% SST
04:04 can only add up to around 900 million ringgit.
04:11 Is this in line with the effects that the people will face?
04:17 [BLANK_AUDIO]
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