Economic stimulus package must be all-encompassing & not just empty talk

The economic stimulus package which will be announced by Pakatan Harapan on 27 February must ensure that the relief sought can be achieved and will not be reduced to just sweet mutterings, as whatever plans announced will directly affect our country and economic outlook ahead.

With regards to the impacts against the economy wrought by the outbreak of the novel coronavirus (Covid-19), the government must launch an economic stimulus package which will focus on mitigating the economic impact of the epidemic. This means, in addition to concentrating on the development of the local tourism industry, the government must also take into account how Covid-19 affects other sectors such as transportation, education, manufacturing and construction, because the impacts of this contagion is extremely widespread.

The government should come up with short-, medium-, and long-term strategies in response for the economic stimulus package to ensure that they can boost the economy and prioritise the safety and welfare of the rakyat. To a certain extent, the government should at least provide subsidy grants or tax reliefs to industry stakeholders and these will help stimulate the economy.

Minister of Finance Lim Guan Eng should refrain from shooting too quickly from his mouth, but instead, introduce a comprehensive boost to the economy which is far more important.

Singapore is going through an underperforming economy. This is thus a simultaneous warning for the Malaysian economy, as it maybe inevitable that Malaysia’s economy in the first half may plunge into a recession. In times like this, Lim Guan Eng should focus on taking action, instead of arguing and spending time on pointless rhetoric.

Tan Tuan Peng
MCA Economic Consultative Committee Chairman

-MCA online-