This comes after a member of the National Chamber of Commerce and Industry of Malaysia (NCCIM) asked if the government has any plan to assist industry players who are affected by the Covid-19 pandemic.
“I believe the prime minister will be making the announcement soon on a big economic assistance package,” Khairy said.
“I do not want to pre-empt the announcement,” he said during an online engagement session with the NCCIM in conjunction with its 45th annual general meeting today.
President of the Malaysian Associated Indian Chambers of Commerce and Industry N Gopalakrishnan said many employers could no longer afford to pay salaries.
“What is the next action of the government to help industry players? We are going through a bad time,” he said.
The World Bank has lowered its growth projection for Malaysia’s economy to 4.5% in 2021 from an earlier forecast of 6% after the dramatic resurgence of Covid-19 infections since mid-April.
In its June edition of the “Malaysia Economic Monitor: Weathering the Surge” report launched yesterday, it said the recent spike in infections has raised concerns about the overall capacity of the health system and the effects of the cycle of opening and closing the economy on households and firms.
According to the report, Malaysia’s immediate priority must be on the efficient and sustained management of the ongoing pandemic and its effects on individuals, households and firms.
An effective find-test-trace-isolate-support strategy is essential to ensure a safe and gradual reopening of the economy and an easing of movement restrictions, the report said.
The World Bank called for deep structural reforms in the medium- to long-term to ensure resilient post-pandemic recovery, led by the private sector.
To date, the government has unveiled a total of seven stimulus packages valued at RM380 billion with the latest package valued at RM40 billion.
National budget director Johan Mahmood Merican said all previous packages, including the latest one dubbed Pemerkasa Plus, have been implemented in stages and are up to schedule.
He also refuted claims that the government’s financial packages are not reaching those affected by the pandemic, with many still falling through the cracks.
He noted that, of the allocations, RM200 billion had been spent through various channels. “We still have over RM100 billion to be spent,” he added.
Another new aid package is expected to be announced by the prime minister soon.
We are live on Telegram, subscribe here for breaking news and the latest announcements.