Guan Eng: Is Muhyiddin announcing any help at all for MCO 3.0?

 

DAP today continued to pressure Prime Minister Muhyiddin Yassin to announce another round of stimulus in view of the estimated economic losses of RM400 million due to the third round of movement control order (MCO).

In a statement today, DAP secretary-general Lim Guan Eng said the expected losses for the economy during the MCO period worked out to roughly RM57 billion until the MCO expires on June 7.

“If Muhyiddin is placing greater priority on economic livelihood, then he should practice what he preached by offering financial aid to the rakyat to counter the losses incurred under MCO 3.0.

“If RM 2.4 billion daily economic losses under MCO 1.0 necessitated six economic stimulus packages totalling RM340 billion, then an estimated RM400 million daily economic losses under MCO 3.0 would require a proportionate sum of RM57 billion,” said Lim.

However, Lim said Muhyiddin’s government can opt for DAP’s proposed RM45 billion stimulus package which will include welfare payments, hiring incentives, e-learning tools, handouts and bank loan repayment moratorium.

“There should be no more repeat of the rakyat not enjoying the full benefit of RM340 billion from six economic stimulus packages given out since last year,” he said.

Finance Minister Tengku Zafrul TengkuAbdul Aziz, an opponent of stringent stay-at-home orders seen in March and April last year, had estimated that Malaysia would stand to lose RM400 million a day based on current MCO rules.

Most businesses are allowed to stay open, while forms of in-person schooling and activities which encourage gatherings are banned.

Bank Negara had also stated that it was not in favour of a blanket loan moratorium as seen last year.

However, Lim had argued that banks could well afford it because they made RM22 billion in profits last year, despite most businesses having suffered the brunt of the pandemic. - Mkini