by Theleaders-Online | April 20, 2020 7:32 am
With close to 2,406 210 people infected and more than 165 816 deaths around the world, as well as a global economic slowdown, COVID-19 is creating a challenging test for humanity.
Malaysia has seen over 5000 cases and 89 deaths so far, as it goes into almost a month of Movement Control Order (MCO) imposed by the government.
In the fight against the Covid-19 outbreak, the government’s main focus remains on the safety of people’s lives over all other interests.
Tackling this unprecedented situation requires a systems approach and the mobilisation of all stakeholders to respond.
Prime Minister Tan Sri Muhyiddin Yassin time to time has reminded Malaysians that we have the ability to win the war against the Covid-19 threat.
Meanwhile, Minister of Finance Tengku Senator Datuk Seri Zafrul Tengku Abdul Aziz reminds us that this storm too shall pass and the sun will shine again.
In an opinion piece he said that he is confident that with the sacrifice and persistence of implementing the right solution, the government will be able to work together to succeed in eradicating this outbreak and, ultimately, bring back the bright days that we all longed for.
Here’s how the Finance Ministry, and our new government contributes.
The latest move is part of a series of steps that the government has taken since the start when RM260 billion people oriented economic stimulus package, “Bantuan Prihatin Nasional” (BPN) were channeled to prioritise public health.
The government has also allocated over RM1.6 billion for public health. In addition to that, over 1,900 additional health personnel were appointed to assist in the fight against the Covid-19 outbreak.
The government has so far followed a step-by-step model and been on the front foot with early screening at airports from mid-January onwards, initiating travel restrictions and in collaboration with states, applying restrictions on events and on places of social gathering including restaurants, theatres and gyms.
Such a response ensured that there was no panic among the citizens and avoided inconvenience to the extent possible.
Equally noteworthy, the government is committed to giving undivided support to the frontline warriors fighting the Covid-19 outbreak. Upon entering the third phase of the Movement Control Act (CPP) on average, we are beginning to embrace the new norms of life, in terms of social awareness, online learning, and not to forget, the way we approach ‘Salam Malaysia’.
The move to reboot some segments of the economy has been fast-tracked by the devastating impact of the lockdown due to the Covid-19 outbreak on jobs and growth.
Throughout the MCO the question that has always been on the minds of all Malaysians must be about the future earnings. This concern is shared by every Malaysian citizen. Traders, no matter how big, medium or small, are worried about losing their business.
Employers are worried that their salaries will continue to be paid despite business interruption, while those who pay salaries worry about the stability of their jobs and their future earnings.
Of course, the contractors, day-to-day workers and freelancers who depend on wage income are affected. Our new graduates are entering the job market wondering if there are any opportunities in this volatile market. The government is aware to all these threats.
In light of all this and more, the government has launched Prihatin Package on March 27. The package takes steps and initiatives to encourage cash flow.
Initiatives such as National Care Aid, bank loan moratorium, reduction in Employees Provident Fund (EPF) contributions and more are designed with the aim of ensuring that Malaysians have enough money to support themselves and their families in the near future.
The Government efforts did not stop after the BPN was announced and paid a listening ear to receive feedback from stakeholders. Based on feedback from the Small and Medium Enterprises (SMEs) industry, the government on April 6 announced the SME + BPN that focuses on micro, small and medium-sized businesses. This benefited many of the industry players who suffered a major blow.
The SME + BPN aims to ensure that businesses and jobs are protected against the economic dangers of the Covid-19 outbreak.
However, the government recognizes that all these measures can only help in the short term to protect the lives of the people.
The more important question, and perhaps more difficult to answer, is: what is the best strategy to ensure that we are able to re-enjoy the quality of life and economic growth of pre-Covid-19? And what are the steps to achieve this strategy as the Covid-19 can strike again at any time, as seen in Singapore and Japan lately.
We must accept the fact that our business and our lives will change to a new norm even after the end of the MCO. Practices such as social outreach will continue while commercial activities will be subject to the existence of the Covid-19 ‘infection zone’, and new standard operating procedures (SOPs) to replace the old ones.
Malaysia needs to win the war against the Covid-19 outbreak to ensure business continuity and thus secure the employment of the people.
Although we are still in control of the movement, various parties, especially government agencies, are beginning to think of ways to help the people cope with the new norm after the Covid-19.
In the face of negative economic impacts in this challenging landscape, economic recovery planning requires strategic thinking, courage and out-of-the-box thinking and sustainable models.
In March, the Ministry of Finance ramp up its efforts by setting up LAKSANA (National Agency for Economic Stimulus Implementation and Coordination Unit) to monitor implementation of economic stimulus package using a data model-based platform to make more accurate decisions.
The government will also increase its efforts to leverage technology and the full potential of digital models and governance practices in the new norm.
We as the “rakyat” need to acknowledge past mistakes and have the courage to change them in the next step.
Now, it’s time to turn the old structures into something more sustainable. When it comes to economic recovery, what we crave is a ‘V’ growth curve, which is a sharp recovery following the fall. The coming months will determine how fast we can drive growth sectors by 2021. The next few months are crucial to the nation’s economic recovery process.
Among the measures taken by the government to ensure the well-being of the people are to support business continuity, help employers secure employment, provide training to the workforce and provide direct assistance to the people to continue to provide basic needs.
The finance ministry took steps to protect those most vulnerable to COVID-19. The safety of life remains a priority. If the ability to sustain life is impaired, it can still be restored. However, if we lose even one life, it will be lost forever. Therefore, ensuring that Malaysians remain healthy is an important step towards a more secure country.
To-date, about 2.8 million applications to appeal for BPN had been received by the Inland Revenue Board (IRB).
Hema Subramaniam is Editor in Chief at The Leaders
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