KUALA LUMPUR – In an unusual meet with Datuk Seri Tengku Zafrul Tengku Abdul Aziz on Thursday to discuss the National Recovery Plan (NRP), DAP parliamentarians proposed a RM45 billion recovery and stimulus package to get the country back on its feet.
In a memo dated July 15 and addressed to the finance minister, who is also NRP coordinating minister, the MPs proposed that at least RM4 billion be allocated to the Health Ministry to accelerate the 3Ts: testing, tracing and treatment.
They said the allocation is also to enhance the quarantine process, ramp up manpower in public healthcare, and upgrade hospital capacity, especially that of intensive care units, as well as medical equipment and other resources to prevent a collapse of the system.
The MPs, namely DAP secretary-general Lim Guan Eng (Bagan), Tony Pua (Damansara) and V. Sivakumar (Batu Gajah), mooted RM30 billion in financial grants and subsidies for businesses.
“RM15 billion would be an investment in pandemic-proofing economic grants and soft loans, matched with the appropriate tax incentives to immediately pandemic-proof workplaces, factories and workers’ quarters,” they said in the memo.
“This is in line with the recent ventilation guide introduced by the Human Resources Ministry, with updated SOPs to optimise indoor air quality and ventilation, as well as treating outdoor spaces as low-risk with adequate social-distancing and crowd-control measures in place.
“The relevant sensors, for example CO2 monitoring devices, can be deployed to measure air quality and flow on premises before allowing them to operate.”
The trio proposed that RM6 billion go towards hiring incentives, as creating and preserving jobs should remain the first line of defence when it comes to saving Malaysian livelihoods.
“The lack of investment in this area may lead to more segments of Malaysian society needing to rely on welfare aid to survive.
“Over a period of two years, it would comprise wage incentives of RM500 a month for local employees and hiring incentives of RM300 a month for employers, creating employment for 250,000 to 300,000 Malaysians.
“Youth unemployment was still at a high of 13.4% as of March 2021. The scheme can broadly adopt the Malaysians@Work programme announced under Budget 2020.”
They said RM5 billion should be allocated to households, and mooted fixes to Putrajaya’s Economic Recovery and People’s Protection Package (Pemulih).
For the hardcore poor, the MPs proposed adjusting aid from RM1,300 to RM2,500, and from RM800 to RM1,900 for the B40 category, while an increase from RM250 to RM1,100 was suggested for the M40 group.
“This proposal acknowledges the difficulties that M40 families (as well as the overall middle class that transcends the M40 classification) face, and requires the upgrading of payments announced under Pemulih.
“Additionally, we propose that the Covid-19 fund be extended well beyond 2022 to reduce the severe negative shock to a recovering economy. The extended expiry date should be aligned with the 10-year period of looser debt-GDP and debt service ratios.”
They called for an interest-free loan moratorium to apply to all except the top 20% of households, saying this will help approximately eight million individuals and companies.
“The cost should be borne by the banking industry, which recorded a healthy profit after tax of nearly RM23 billion in 2020 and RM32.3 billion in 2019.”
It is time to make substantial cash injections into the economy, as any delay will result in more job losses, leading to an increasing number of Malaysians requiring economic support to survive, added the lawmakers.
“The government would then have to fork out even more money to cushion the impact, or face a further decrease in economic growth.” – The Vibes, July 17, 2021
