Pakatan Harapan is disappointed that the RM40 billion Pemerkasa Plus economic stimulus package announced by Prime Minister Muhyiddin Yassin contains only RM5 billion in new funding and not the RM45 billion cash injection required by the economy to deal with the adverse economic impact of Movement Control Order (MCO) 3.0.
Opposition Leader Datuk Seri Anwar Ibrahim said Perikatan Nasional government must be bolder to spend to pull the economy out of this recession.
“RM5 billion cash injection is hardly adequate when MCO 3.0 is expected to sustain losses of RM2.4 billion daily, similar to MCO 1.0.”
“Economic losses are estimated to be at least RM60 billion for MCO 3.0. A RM45 billion cash injection into the economy, instead of RM5 billion, will help to mitigate these minimal economic losses of RM60 billion” He said in a Pakatan Harapan media statement today.
Anwar said the Prime Minister continues with the old economic and welfare orthodoxy of giving one-off payments, when what is needed in a global pandemic is serial financial aid on a regular basis to save jobs, businesses, and economic livelihood.
“Financial assistance should not be limited to B40 but also the M40 group to prevent them from slipping down into the B40 group.” He said
Besides that, the opposition leader said vaccination is the key solution.
“The slow vaccination rate despite appropriating RM 5 billion from the National Trust Fund (KWAN) without parliamentary approval, and the chaotic online registration of AstraZeneca vaccine despite spending RM70 million, only highlights the whole-of-government failure in handling this crisis.” Anwar said.