MIER chairman Sulaiman Mahbob also said the government should not be deciding which sectors were essential or not, as certain non-essential sectors produce components for others, and closures would cause disruptions in the supply chain.

“Let buyers and customers decide what is essential,” he said.

In his keynote speech at the 7th annual economic and financial policy institute (ECOFI) virtual symposium 2021, Sulaiman said the government’s fiscal space was narrowing fast given their rising debt, which is almost exceeding 60% of the GDP.

It was therefore necessary, he said, for the economy to be reopened in phases for now, but fully reopened when 80% of the population are vaccinated.

Restaurants and eateries should be allowed to open, with dining-in allowed for two people per table, he said.

He added that eateries have reported a 10% to 15% drop in total sales with the government allowing only takeaways and deliveries.

The plantation sector should also be allowed to bring in foreign workers, he said.

“In the meantime, we should allow a vaccination dividend. Those who have taken double dose vaccinations should be allowed to move freely.”

Meanwhile, the RM600 wage subsidies should be raised to 40% to 50% of the wage bill as employees’ wages are much higher.

Sulaiman said these measures should complement what the government is already doing to help the economy.