Stimulus package will flow over the three months, says Azmin

The Prihatin Rakyat package was announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday (Friday).

According to the senior minister, the situation would simply deteriorate without any form of assistance: "Companies won't be able to operate and have no choice but to retrench their workers. We have to resort to this (stimulus), to save these workers and help employers not to dismiss them."

"But I am confident that this package is not just about three months but will bring about manifold benefits for the future in economic activities and growth," he said.

He said this in a programme, 'Bicara Naratif Pakej Rangsangan Ekonomi' that was telecast live today by Radio Televisyen Malaysia (RTM).

"As we are aware, the world is facing a difficult situation and Malaysia is no exception in the wake of the COVID-19 pandemic and global economic slowdown.

"Malaysia as an oil producing country is also impacted by falling oil prices. Hence, why we must restructure the country and take the bold step of introducing the RM250 billion stimulus package.

"Our hope is that when the movement control order (MCO) period is over, we can see a situation that is more reassuring," he said.

Azmin revealed that the Finance Ministry has prepared a module and specifics to all the ministries, in line with their respective responsibilities, on the disbursement of assistance to the target groups, which would be monitored by the Economic Stimulus Package Implementation and Coordination of National Agencies Unit (Laksana).

"We have complete data on the recipients from the B40 and small and medium enterprises (SME).

"As for the M40, we have some setbacks as I mentioned earlier, the government had given less priority to the category. That's probably the reason why we do not have the complete data but this will be seen to so they too can have their right to assistance," he added.