SME Times is powered by   
Search News
    
Just in:   • Gulf oil earnings to touch record $562 bn in 2008  • Ban on rice, wheat exports extended till next April  • Markets crash ahead of inflation data; Sensex 434 points down  • Abu Dhabi energy firm starts work on German plant  • FCI gets nod to sell rice, wheat in domestic market 
Last updated: 24 Apr, 2008  

Malaysia to shelve space programme for lack of funds

Sheikh Muszaphar Shukor, the first Malaysian astronaut to blast into space
Staff Reporter | 22 Apr, 2008
Malaysia's fledgling space programme will be temporarily shelved due to a lack of funds, six months after sending its first astronaut to space, a news report said Tuesday.

Science minister Maximus Ongkili said the initial plan to send a second astronaut to space could not be carried out due to a problem of budgeting.

"There's zero money. The ministry will have to look for money if it wants to continue with the programme," Ongkili was quoted as saying by the New Straits Times daily.

On Oct 10, Sheikh Muszaphar Shukor created history as the first Malaysian astronaut to blast into space on board a Russian rocket.

Ongkili told reporters Monday that while the government was keen to send another astronaut into space, the money needed to do it was too much.

"There are competing priorities and other social development needs. We have to ensure that the money spent is worth it," he said.

The first launch cost the government $25 million, an amount partly offset by the country's purchase of 18 Russian-made Sukhoi fighter jets in a 900-million-dollar deal in 2003.
 
Print the Page Add to Favorite
 

Share your opinion about this story

  Top Stories
» Decline in manufacture exports a matter of concern: FIEO
» Textile exporters eye Asian markets
» All ministries must have legal draftsmen: Chidambaram
» Buyer-seller meet from October 17
» Industrial city Kanpur at its deathbed
 
Commented Stories
» MSME Ministry proposes new scheme(12)
» Are Indian SMEs getting their basics wrong?(7)
» Central Sales Tax (CST) not brought down to 2 percent: report(4)
» Working overtime - do companies really benefit?(3)
» FM asks banks to lend more to MSMEs(1)
  Customs Exchange Rates
Currency Import Export
US Dollar
42.55
41.95
UK Pound
84.60
83.20
Euro
66.95
65.70
Japanese Yen 39.90 39.15
As on 22 Aug, 2008
  Daily Poll
Do you agree that SMEs are losing out to big corporates because they are ill-informed about the market realities?
 Yes
 No
 Can't say
 
 
 
About Us  |  Contact Us  |  Feedback |  Success Stories |  Tradeindia in News  |  Get Listed | 
Sitemap  |  Terms of Use |  Useful Links |  Trade Bodies