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Opposition lawmakers call for auto loan moratorium and wage subsidy to save jobs at Malaysia’s current MCO | Malaysia



Opposition lawmakers said the auto-credit moratorium similar to those introduced during the first MCO last year could eliminate anxiety and bureaucracy almost instantly.  - Reuters photo
Opposition lawmakers said the auto-credit moratorium similar to those introduced during the first MCO last year could eliminate anxiety and bureaucracy almost instantly. – Reuters photo

KUALA LUMPUR, 23 January – Opposition lawmakers urged the government to implement an automated credit moratorium and six-month wage subsidy to save jobs affected by the current second action control order (MCO).

The collective MPs from the PKR, DAP, Amanah, Warisan, New Sarawak Party, as well as the currently unregistered United Democratic Alliance of Malaysia (Muda), the automated credit moratorium, similar to those introduced in the first MCO last year, promptly dispel anxiety and bureaucracy.

“SMEs and unaffected individuals can continue their existing loan repayments.

“The six-month auto-loan moratorium will improve cash flow in the economy and therefore create economic activity. Lawmakers will have more money at the disposal of individuals and SMEs, which will help improve the bottom line for all businesses and encourage them to maintain and perhaps increase employment (rather than cutting jobs) while working with this epidemic. in a joint statement today.

Lawmakers also call on the government to increase the Social Security Organization’s (Socso) wage subsidy of RM 600 per worker to a higher amount (for those earning income below RM4000) and extend it for at least six months.

“Just one month’s RM600 subsidy is insufficient because MCO 2.0 and Emergency are still in the process of self-disclosure for some industries.

“The six-month wage subsidy will greatly encourage employers not to resort to layoffs and help them keep their business until half of this year as they face declining sales and cash flow. For some, it might encourage them to start hiring again, ”he said.

Lawmakers also said that the RM 15 billion Permai stimulus package announced on January 18 is not enough to solve problems Malaysia is currently facing such as unemployment and the economic crisis.

This is an extraordinary time. The government must take extraordinary measures to save jobs.

“All the consequences of increasing unemployment can harm the nation in a way that no future stimulus package can help.

“The Perikatan Nasional government has already lost its competitiveness to our Asean neighbors in attracting foreign investors due to sheer incompetence, inefficiency and political instability. “More denial and stubbornness to do more for the business sector is a nail in the coffin for our bleeding economy,” MPs said.


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