PONTIAN, Nov 7 — Johor Pakatan Harapan (PH) chief Tan Sri Muhyiddin Yassin today said that a suggestion will be put forward to the Finance Ministry to introduce a stimulus package in an effort to improve the country’s economy.
He said the matter will be discussed with Finance Minister Lim Guan Eng and also Prime Minister Tun Dr Mahathir Mohamad in the next Cabinet meeting.
“Basically, the stimulus package is not a new concept as it had been done by the previous Barisan Nasional (BN) administration when they were the government as a means to alleviate the weak economy.
“The stimulus package will see the government pump money to encourage people to spend,” said Muhyiddin at the PH main Tanjung Piai by-election operation centre in Rambah here today.
However, he did not divulge further information on what sort of stimulus package it would be.
Muhyiddin had earlier in the day chaired a meeting on early voter sentiments and preparations for the constituency ahead of the Tanjung Piai by-election on November 16.
Muhyiddin, who is also the Parti Pribumi Bersatu Malaysia (Bersatu) president and Home Minister, said he would also discuss with the Economic Affairs Ministry to start a tourism industry development project for Tanjung Piai.
The 72-year-old Pagoh MP pointed out that Tanjung Piai was previously known as a tourism area where it has many homestays and other local products that has the potential to be developed further.
“This is one of our promises and as we are in the government and we can do it anytime,” said Muhyiddin.
In September, analysts predicted that the Budget 2020 will likely include a contingency plan such as a stimulus package to counter the slowdown from the US-China trade war.
The mini fiscal stimulus package could amount to RM3 billion or 0.2 per cent of gross domestic product (GDP), while likely in the form of higher development expenditure to include an extension of the reinvestment allowance, grants and financing guarantees for small and medium enterprises, higher development expenditure to boost construction activity and higher social spending to aid the B40 group.
