PKR leader urges gov't to unveil larger stimulus package for Covid-19 crisis
PKR treasurer Lee Chean Chung today urged Putrajaya to announce a second stimulus package worth between RM90 billion and RM110 billion to contain the economic fallout due to Covid-19.
In a statement today, Lee (photo) said the second stimulus package which slated to be announced on March 27, should be able to help people suffering income reduction and job loss as well as the underprivileged.
PKR treasurer Lee Chean Chung today urged Putrajaya to announce a second stimulus package worth between RM90 billion and RM110 billion to contain the economic fallout due to Covid-19.
In a statement today, Lee (photo) said the second stimulus package which slated to be announced on March 27, should be able to help people suffering income reduction and job loss as well as the underprivileged.
"The measures should be anchored on fighting income and job loss, targeting the unskilled or non-salaried jobs, Bantuan Sara Hidup (BSH) recipients, small and medium-sized enterprises, farmers and fishermen," he said.
"According to the Malaysian Institute of Economic Research (Mier), the household income may fall 12 percent or RM95 billion, with as many as 2.4 million people losing their jobs," added Lee, who is also Semambu state assemblyperson.
He pointed out the RM20 billion worth of stimulus package unveiled on February 27 and the RM40 billion Employee Provident Fund (EPF) withdrawal announcement, were grossly insufficient.
This is because, he said, the first stimulus package was targeted at the tourism and hospitality industry, which is generally irrelevant now.
"The EPF withdrawal is timely, but not more than employees’ cash advancement at the expense of their future.
"The measures taken so far is meagre. Only a bigger government-driven boost at wider scope is sufficient to weather the looming storm," Lee said.
He also pointed out an additional two-week partial lockdown to April 14 might amplify the real gross domestic product (GDP) contraction by three percent to four percent.
"If we focus on the income loss of RM95 billion, or to compensate for the projected 6.9 percent GDP contraction, then the quantum of the stimulus package should be at the range of RM90 billion to RM110 billion.
"Malaysia is the fifth hardest-hit nation by Covid-19 in Asia after China, Iran, South Korea and Japan," Lee said.
He anticipates that the impact would be much more serious than Severe Acute Respiratory Syndrome (Sars) epidemic in 2003 and the global credit crunch in 2008.
"Malaysia should act now before the crisis takes a heavy toll on our daily lives," said Lee.
Malaysia is currently implementing two-week movement control order (MCO) in bid to contain the sharp rising of Covid-19.
The government today decided to extend the MCO for another two week to April 14.
As of noon yesterday, the country recorded a total 1,624 Covid positive cases. A total 17 deaths were reported as of this morning.
I would like to suggest that the opposition go stick their heads in a bucket of water and leave it there for at least ten minutes If you can’t develop a more positive attitude and work WITH the government to resolve this crisis you aren’t worth the paper your useless manifesto was written on And if the government aren’t prepared to involve you in their planning, I don’t blame them Go sit in the corner and do your whining to your Doctor and your buddies in uselessness
Bad habit is hard to break. This inconsiderate bozos from one after another (sent by either anwar’s or LKSs lapdogs) trying to be hero to the rakyat as we don’t know. Stop the “bossing” nature. You people are no longer ruling. The stimulus aids will come. Now all of us are cooperating to support with whatever we can and trying to keep our spirit high at the same time. Obviously you got good nothing to offer. So zipped it up and stay home. We’re sicked an tired with your hypocrisy.
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