Rebounding to normal

ALL the best laid out plans the government, companies and people have had in the time preceding the Covid-19 crisis have now turned awry. We hear very little about implementation of Budget 2020, companies going on its expansion plans to bring in more business or even consumers buying the new car they have been saving for.

Fire-fighting Covid-19 has been the priority of the government after unveiling a stimulus plan of Rm260bil on combating the virus outbreak.

The economic revival plan they are working on will probably chart the new direction for how the Malaysian economic will grow in the direction of the government.

For companies, most are in cost cutting mode. Investment plans are shelved and a number of salary-shedding moves are being implements. Recruitment too will be only for critical needs and its holding pattern for most.

For the consumer, job security is on their minds while dealing with salary uncertainties will mean they too are in a holding pattern as much as possible. Purchasing big ticket items will be put aside now to wait for more clarity over what will happen in the immediate future.

Banks too will be ultra conservative now. They too will need more certainty over the financial health of their clients before loans are extended. Then there is the issue of post moratorium. What will be the repayment capacity of borrowers in an economic scenario most are fearful about.

But a return to normalcy is something most of us are waiting for. A world that is in the current mould is not what most would classify as a rosy future and the yearning for normalcy will be strong.

What changes we see today may not be the way the world will working post pandemic. There will be many elements we will embrace but like everything else, the Government will get back to doing its job, companies will start looking into growth and people will once again look to make purchases to satisfy their needs and wants. The only question is how long will that take.