THE Covid-19 pandemic has caused a devastating impact to the world and Malaysia. It has posed immense challenges to businesses as well as ordinary Malaysians – where household incomes continue to decline and jobs are at risk.
On March 27, Prime Minister Tan Sri Muhyiddin Yassin announced the largest economic stimulus package worth RM250bil in total – equivalent to about 17% of 2019 GDP. The package is designed based on three main thrusts: protecting the well-being of the rakyat; supporting business; and strengthening the nation’s economy.
It is commendable that the government has proposed multiple bold measures, especially several generous initiatives which include cash assistance to the B40 and M40 communities. However, a one-off cash aid may be shortlived.
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