Besides Pemulih, other measures needed as well

Sarawak Housing and Real Estate Developers' Association (SHEDA) Chairman Datuk Sim Kiang Chiok. Photo: Ramidi Subari

KUCHING: The National People’s Wellbeing and Economic Recovery Package (Pemulih) will benefit many individuals and economic sectors during the Covid-19 movement control order (MCO) 3.0, says Datuk Sim Kiang Chiok.

The Sarawak Housing and Real Estate Developers Association (Sheda), Kuching chairman opined that several measures must be implemented along with Pemulih in order to restore the country’s economy by the end of the year.

“Bank Negara Malaysia should empower banks to assist in business recapitalisation and ease the lending standards that are based on pre-Covid requirements which are still hard to follow.

“The usual rules of proven income, excellent payment record must be relaxed, classification of non-performing loan must be eased from three months to six months when the new bank moratorium ends.

“In addition, automatic bank loan repayments moratorium for all, including B40, M40, T20 and small and medium enterprises (SMEs), will help give time for the individuals, businesses and industries to recover.”

He highlighted that more cash assistance should be given as well as extending the wage subsidy programme.

“More cash assistance for SMEs under the Prihatin Special Grant Plus or Geran Khas Prihatin, with an additional RM1,000 to be provided to these small enterprises to help them during the Recovery Plan period.

“The wage subsidy programme should be expanded and altered to cover more sectors throughout the Recovery Plan, with the intention that the government will accommodate up to 500 people for each firm at a rate of RM600 per employee.”

He hopes that the Pemulih plan and additional measures would assist businesses and economic sectors in moving forward.