KUALA LUMPUR, March 28 — The small and medium-sized enterprises (SMEs) welcomes the Prihatin Rakyat Economic Stimulus Package (Prihatin) announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday, describing it as very comprehensive.
Entrepreneur and Cooperative Development Minister Datuk Seri Wan Junaidi Tuanku Jaafar said the injection of funds from the economic package would assist the SMEs to continue with its business activities and retain workers.
The economic package he said, covers all levels of individuals including pensioners.
“What the government is planning and currently doing now is to help them (the SMEs), as the sector is a contributor to the Malaysian economy during this very challenging situation.
“This is not a national, but is a global phenomenon. The nation has come up with a plan (stimulus measures) to help the industry, their workers and the B40 group,” he said after announcing Bank Rakyat’s dividend and financial results for 2019 here today.
Asked on the RM250 billion Prihatin Rakyat economic stimulus measure which was announced without being tabled in the Parliament, Wan Junaidi said, the package is an allocation under supplementary budget due to Covid-19 pandemic.
“Of course, under normal circumstances, any expenditure from the consolidated fund should be approved by the Parliament first, but in the current situation, how do we call for a Parliament sitting,” asked the minister.
On the contribution of SMEs to the country’s Gross Domestic Product (GDP) this year, the minister said it needs further reassessment.
This he said, was due to the imposition of the nationwide movement control order (MCO) until April 14 which saw many industries stop their operations.
“We will holding a meeting this Monday,” he said adding that, only essential services are allowed to operate during the MCO period. — Bernama