Stimulus package to cushion virus impact, says Mahathir

PUTRAJAYA: The government is meeting the relevant agencies and industries to gauge the impact of the virus outbreak before deciding on figures pertaining to an economic stimulus package.

Prime Minister Tun Dr Mahathir Mohamad said the stimulus package is aimed at enhancing the local economy in light of the fast spreading novel coronavirus.

The tourism industry will be the most affected by the outbreak as it has a direct impact on the Visit Malaysia 2020 campaign, he said.

“When we announced the campaign, we did not expect the coronavirus (outbreak). But now, we have to stop airlines from flying to several areas in China due to the virus,” he said during a question and answer session with French multinational companies here yesterday.

Meanwhile in KUALA LUMPUR, the Ministry of International Trade and

Industry (Miti) and its agencies announced that it will be strengthening its forces to ensure the success of the Shared Prosperity Vision 2030, despite ongoing global challenges.

Minister Datuk Darell Leiking said the ministry aims to ensure the country can handle the challenges and become self-sustaining.

He said Miti will focus on the manufacturing and smart agriculture industries and call upon the states to provide a wishlist to boost their respective economies.

“Not all states have the same needs, some may require expertise in high technology, some may not,” he said, adding that the states are jointly responsible in attracting investors to set up businesses in Malaysia.

Miti will be meeting key industry associations to gauge the impact of the coronavirus outbreak on businesses today.

It will collate views and suggestions on measures the government can put in place to help mitigate the impact.

Miti’s deputy secretarygeneral (Industry) Norazman Ayob said it will take into account short-term to medium-term suggestions on preventive steps that the government can take.

“We will compile and forward these to the Ministry of Finance and the Ministry of Economic Affairs, for them to introduce the stimulus package,” he said.

Earlier, Finance Minister Lim Guan Eng said his ministry will study the impact of the coronavirus on the country before determining the size of the stimulus package for the affected sectors. Norazman added that Miti, the Finance Ministry and Economic Affairs Ministry are working out a solution.”

These are aimed at addressing or at least reducing business costs, and introducing steps to mitigate the dilemma of industries in getting imports from China.

Not all states have the same needs, some may require expertise in high technology, some may not.”

– Darell Leiking