The Malaysian government today unveiled a RM250 billion stimulus package as the "nation is at war" against the devastating social and economic fallouts from the coronavirus pandemic, authorities said.
The wide-ranging measures, the largest for the country since the global financial crisis of 2008/2009 includes direct cash payout to affected citizens, discounted rates for basic necessities, subsidies and incentives, loan payments moratorium, financial guarantees, and additional allocations for critical sectors like healthcare.
Malaysia's number of confirmed infections doubled to over 2000 this week, the highest in Southeast Asia, with 23 deaths. In an effort to curtail its spread, the government has extended curbs on travel and movement until April 14.
In a televised address, Malaysian Prime Minister Muhyiddin Yassin Muhyiddin said this unprecedented situation needs unprecedented action. "My dear brothers and sisters and the children of this beloved country, please bear with me and my cabinet and government colleagues."
Malaysia is considering purchasing up to one million South Korean coronavirus test kits as it is speeding up efforts to scan more people for the virus, the government said Friday.
Malaysia is also studying South Korea's rapid antigen test kits that display whether anyone has COVID-19, the disease caused by the coronavirus, said Noor Hisham Abdullah, director-general of the health ministry.
The new package arrived less than a month after the RM20 billion-value first package. More than 2,000 infections and 24 deaths have been reported in Malaysia, the hardest-hit country in South-East Asia.
The stimulus plan represents about 19 percent of the country's gross domestic product of around RM1.4 trillion and more than two-thirds of the government's 2020 budget.
The initiatives aim to help businesses in managing wage bills, energy receipts, schemes to assist firms in the worst sectors and cash payouts for households in managing their expenses particularly in the B40 and M40 classes.
Muhyiddin said about RM10 billion under Bantuan Prihatin Nasional would be disbursed in phases, depending on income rates, to individuals and families. Households with a monthly income below RM4,000 will receive cash assistance worth RM1,600, while families with income below RM8,000 will receive RM1,000.
Meanwhile, frontline medical staff in Malaysia complain they are threatened by a shortage of protective equipment and uncooperative patients, as the country seeks to avoid a third wave of coronavirus infections by expanding a nationwide lockdown.
Doctors hope that the prime minister's decision this week to prolong the lockdown until April 14 will buy them valuable time to reduce increasing infection levels and avoid a spike in cases when restrictions are lifted, with Health Ministry Director-General Dr Noor Hisham Abdullah saying on Wednesday that he hoped to avoid the country from hitting 6,000 cases.
