KUALA LUMPUR: The Democratic Action Party (DAP) has unveiled its proposed Budget for 2009, which focuses on competency, accountability and transparency (CAT).

The opposition party's national publicity secretary Tony Pua said the Budget is based on the party’s proposed policies last year, adding that they “were still relevant.”

There are 14 key policies in the Budget, which aims to benefit all Malaysians regardless of ethnicity or background, he claimed.

The policies focus on protecting oil revenues, investing in education, creating an efficient transportation system, renegotiating contracts, implementing a fair wage policy, having open, competitive and transparent tenders and auctions, and revitalising small and medium industries.

The proposals also include restructuring personal income taxes, introducing “green taxes” and reviving the information and communications technology sector.

Pua said he expected the Government to announce an increase in expenditure and maintaining deficits on “Budget day” on Friday, which he believes are not necessary for the country’s economy.

He said this was because while Government revenue would increase by about 3%, mainly driven by oil and gas revenues, there would be a decline in corporate taxes.

He added that Malaysia’s high dependency on oil and gas would be one of the challenges that the nation needs to overcome.

“For 2008, oil and gas receipts are expected to contribute in excess of 40% of the Government’s revenue, exceeding the 37% last year.

“This is a worrying trend in the light of oil reserves which will last for only another two decades and Malaysia becoming a net oil importer by 2011,” he said.

Another challenge for the country is the global economic slowdown, he added.