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Interim PM Unveils A Financial Stimulus Package To Tackle The Impact Of Covid-19 Outbreak.

Interesting measures for interesting times!
28 Feb 2020, 06:17 AM
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Main image via Malay Mail
 


Good news amidst the chaos.
 
 
In the midst of all the political uncertainty that’s going on, interim Prime Minister, Tun Dr. Mahathir Mohamad unveiled a financial stimulus package worth RM 20 billion to boost the declining economy following the Covid-19 outbreak.
 
Aiming at tackling the impact of the outbreak on global economy, he added that the government will implement a three-pronged approach first, to ease the cash flow of affected businesses, especially tourism and also to assist affected individuals. Besides that, this approach is also to stimulate demand for travel and tourism.

via GIPHY


 
 
 
Tun mentioned that some amount from the country’s savings will be made use to ease the cash flow. Hotels, travel agencies, airlines, shopping malls, conventions and exhibition centres will be given 15 % discounts in monthly electricity bills for 6 months beginning April 2020. Hotels will be also exempted from the 6% service tax beginning March to August 2020.

via GIPHY

Doctors and other medical personnel directly involved in the efforts of treating the outbreak will be given special monthly critical allowance of RM 400 while related front line staff will receive RM 200 from February until the end of pandemic. This is a token of appreciation to those who are giving their heart and soul for the betterment of the society.
 
 
As for taxi drivers, tourist bus drivers, tourist guides and registered trishaw drivers will be given RM 600 each.
 

via GIPHY

It doesn’t stop there. There will be a reduction in the Employees Provident Fund (EPF) contributions from 11 % to 7 %, which would span from April to December 2020.
 
 
The travellers… you’re not forgotten! Given the sudden decline in tourism, the stimulus package also gives Malaysians RM 100 vouchers for flights, rails and hotels. Does this excite you?
 
 
Well, this is good news indeed. We hope the political turmoil will be resolved soon as well, so that we Malaysians can look forward to certainty and more peaceful days ahead.
 
 
What are your thoughts?


 
Info via The Straits Times

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