JUNE 9 — The RM35 billion short-term Economic Recovery Plan announced by Prime Minister Tan Sri Muhyiddin Yassin is timely and right on five counts – arresting the increase in unemployment and business closures, easing the cashflow of businesses, driving consumption which is an engine of growth and a relevant focus on digitalisation.
Hence, the three-month extension and coverage expansion of the Wage Subsidy Programme under Penjana. Furthermore, it can also be utilised to cover unpaid leave in the tourism businesses which have been badly affected by the crisis. Perhaps the next crucial step is to encourage companies to earn health accreditation as an insurance of “safe travel” for the travelers to regain consumer confidence.
However, there is still a need for the government to increase the participation of SMEs in the Vendor Development Programme through the GLCs. This could be done in collaboration with SME Corporation Malaysia.
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