Malaysian SMEs feel neglected by government’s latest COVID-19 stimulus
KUALA LUMPUR - The Malaysian government’s stimulus package to ward off economic disaster in the face of the COVID-19 pandemic gives too much help to staff, and not enough to the small businesses that employ most of them, and the self-employed, bosses have told Salaam Gateway.
On Friday (Mar 27), prime minister Muhyiddin Yassin outlined a 230 billion Malaysian ringgit ($53 billion) “comprehensive, people-oriented” package of economic measures to shield workers who are forced to stay at home and businesses that are struggling because of the lockdown that was extended two weeks to Apr 14. The package follows the first, of 20 billion ringgit, announced on Feb 27.
The latest stimulus package offers cash handouts of about 10 billion ringgit to workers in the middle and lower income groups, as well as launching a 50 billion ringgit government guarantee scheme for the corporate sector, under the pledge that “no one will be left behind”.
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