Putrajaya to unveil Short-Term Economic Recovery Plan early this month

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has announced that the Short-Term Economic Recovery Plan for June to December 2020 is slated to be launched by the Prime Minister sometime this month.

The plan according to the finance minister will be focusing on three key objectives, to empower people, propel businesses and stimulate the economy.

“Since early May, MOF colleagues and I have engaged with over 100 stakeholders. Among the sectors involved were tourism, social enterprise, creative industry, business associations, technology and e-commerce, education, housing , manufacturing, human resources, private healthcare, professional services, NGOs as well as agriculture,” said Tengku Zafrul.

The Finance Ministry further stated that according to a Nielsen study, over 40 percent of workers surveyed had indicated a reduction in income during the Movement Control Order (MCO) period.

As for businesses, the main challenges faced were payment of salaries, reduction in customers, payment of rental for premises and cashflow limitations.

“I do not wish to raise unnecessary alarm or to paint a bleak picture of the economy. Rather, these are realities of the challenges we will face and as such need to be addressed by the Government,

“The Short-term Economic Recovery Plan is our chance to capitalise on fresh opportunities arising from the Covid-19 crisis for the country’s future development,” he said.



Please enter your comment!
Please enter your name here

Latest News

Putrajaya announces new special assistance initiative package, Kita Prihatin

In a live televised press conference, Prime Minister Tan Sri Muhyiddin Yassin has announced that Putrajaya will implement a new assistance package,...

Suntrack Development unveils latest project, Tuai Residence

Property developer, Suntrack Development Sdn Bhd has unveiled its latest project Tuai Residence @ Setia Alam today. The 330-unit condominium project with...

Cainiao partners with Best Inc. to launch cross-border e-commerce logistics service

Cainiao Smart Logistics Network, (Cainiao Network), the logistics arm of Alibaba Group Holding Limited, today announced a partnership with BEST Inc. (BEST),...

OCBC Bank introduces new initiative to make banking less rigid

OCBC Bank (Malaysia) Berhad (OCBC Bank) is introducing a new initiative that offers the mobile generation greater personal control over their finances...

Ferrari Malaysia’s newly renovated flagship showroom is revealed

Naza Italia, the official importer and distributor for Ferrari in Malaysia, has unveiled the fresh-faced Ferrari Petaling Jaya showroom. The double-storey showroom,...

Must read

Embed a proper digital literacy lesson in the school curriculum

By Afifah Suhaimi Amidst the drastic growth of internet users this year – with almost one million additions compared...

How to hire talent in a post Covid-19 world

According to the Global Startup Ecosystem Report from Start-up Genome, 72 percent of startups saw an average of 32 percent fall in...

Changing the way businesses operate with smart manufacturing

BusinessToday speaks to Srirangam Srirangarajan, Altair’s Managing Director for Southeast Asia, Australia and New Zealand on the importance of smart manufacturing and...

4 post-Covid predictions that will matter for years to come

By Sandeep Bhargava, Managing Director of Asia Pacific Japan (APJ), Rackspace Technology, Undoubtedly, the world of business has...