Image credit: The Vibes
PETALING JAYA: The lifeline extended to cash-strapped businesses via the government’s Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) provides much-needed relief to industry players, says the National Chamber of Commerce and Industry of Malaysia (NCCIM).
Its president Tan Sri Ter Leong Yap said the RM150bil stimulus package was timely and would help hard-hit groups tide over during current Phase One of the National Recovery Plan (NRP).
“Pemulih contains a comprehensive form of assistance to all groups affected by the Covid-19 pandemic.
“NCCIM is pleased there are cash grants, loan facilities and various funds for targeted sectors to help micro businesses and SMEs (small and medium enterprises) cope with cash flow, credit and costs.
“We also hope the six month automatic loan moratorium without conditions can also include SMEs and mid-tier companies that are badly affected by the pandemic and not allowed to operate during the lockdown, ” said Ter.
Federation of Malaysian Manufacturers president Tan Sri Soh Thian Lai said the bank loan moratorium, the extended and enhanced Wage Subsidy Programme along with the various financing assistance would be critical to keep businesses going through the tough times, especially for those in non-essential sectors.
“These two financial assistance by the government have proven in the past to be instrumental to enable businesses to sustain operations, financing and employment, ” he said.
Soh, however, added that the government should extend the automatic bank loan moratorium for all companies irrespective of size and give the option to those who do not require the assistance to opt-out.
Malaysian Employers Federation president Datuk Dr Syed Hussain Syed Husman said the Pemulih package targeted towards the rakyat, businesses and the vaccination programmes would provide temporary relief to the groups.
“Some employers would benefit from the extended and simplified wage subsidy programme, the loan assistance to SMEs and micro enterprises and the automatic approval for loan moratorium which, hopefully, is also interest-free, ” he said.
SME Association of Malaysia president Datuk Michael Kang suggested that the government provide a vaccination timetable for them and speed up vaccination for economy frontliners.
“The government should provide the timetable so that SMEs and micro entrepreneurs know when to operate their businesses. This way, employees will also be able to protect their jobs, ” he said.
For the badly hit tourism and hospitality industry, Malaysian Association of Hotel Owners executive director Shaharuddin M Saaid suggested finding possible ways of opening up tourism so that stakeholders like hotels, travel agents, theme parks and tourist attraction spots could generate their own income and revenue.
“There is a need to talk to industry players on a workable mechanism to restart tourism, how best and what is the most practical way to do it with the new normal, ” he said.
Source: https://www.thestar.com.my/news/nation/2021/06/30/package-provides-much-needed-help-say-groups