Muhyiddin moots targeted stimulus package to help small-time entrepreneurs

Perikatan Nasional chairman Muhyiddin Yassin today urged the government to consider implementing a targeted stimulus package for vulnerable groups still struggling with the economic after-effects of the Covid-19 pandemic. 

The former prime minister said such groups included entrepreneurs in the micro, small and medium (PMKS) sector, as well as individuals in the construction and tourism sector.

He added that without government intervention, these sectors might collapse. 

Speaking in the Dewan Rakyat today, the Pagoh MP asked if the Cabinet as a whole would take action for the near-term future, suggesting a period of two years. 

"Say RM100 billion to RM200 billion fiscal aid or non-fiscal assistance such as bank moratoriums," he said. 

"Neither the government nor the Employees Provident Fund will have to spend a single sen. 

"But I know the stand of the Madani government, which says that none of this can be done," he added, speaking to Economy Minister Rafizi Ramli during the oral question session.

The government under Muhyiddin's leadership carried out a series of economic stimulus packages worth more than RM530 billion at the height of the Covid-19 pandemic in 2020.

Speaking today, he said while the current government had made plans to tackle the economic challenges, these appeared to be taking a long time. 

"I am afraid that this year, things will be worse," he said. 

"More people might lose their jobs. The B40 have become the B61. Without firm action by the government, what can be done to ensure that this does not happen?"

Rafizi meanwhile said that the situation could not be worse than it was three years ago. 

He said projections had shown that only the agriculture sector might face such an eventuality.