Opposition MPs calls for automatic loan moratorium, wage subsidy for another six months to save jobs in current MCO

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Twenty-five opposition Members of Parliament (MPs) have urged the government to implement another six months of automatic loan moratorium to help businesses and individuals mitigate the economic impact of the Covid-19 pandemic.

Reuters

In a joint statement today, the MPs said the loan repayment moratorium would help improve cash flow and save jobs during the Movement Control Order (MCO) 2.0, as had happened under the first MCO in March last year.

“With this, Individuals and small and medium enterprises (SMEs) will have more cash at their disposal, which in turn will help to improve the bottom line for all businesses, encouraging them to keep and maybe increase employment (instead of cutting jobs) as they work through this pandemic,” they said.

They said SMEs and individuals not badly impacted can continue with their existing loan repayment.

The MPs also suggested that the Social Security Organisation (Socso) increase its wage subsidy of RM600 per worker for those earning below RM4,000 and extend it for at least six months.

“Six months of wage subsidy will greatly encourage employers not to resort to cutting jobs and help carry them through half of this year as they face reduced sales and cash flow,” the statement said.

The MPs also said the RM15 billion Permai stimulus package which was announced on Jan 18 is just not adequate to address the problems — such as unemployment and economic crisis that Malaysia is facing right now.

“This is an extraordinary time. The government should take extraordinary measures to save jobs.

“The full consequences of rising unemployment may hurt the nation in ways no future stimulus package can aid.

“The Perikatan Nasional government has already lost out to our Asean neighbours in their competitiveness to attract foreign investors because of sheer incompetence, inefficiency and political instability. Further denial and stubbornness to do more for the business sector is one more nail in the coffin for our bleeding economy,” the MPs said.

The statement was signed by:

  1. Darell Leiking (Penampang)
  2. Syed Saddiq (Muar)
  3. Mohd Azis Jamman (Sepanggar)
  4. Hannah Yeoh (Segambut)
  5. Yeo Bee Yin (Bakri)
  6. Baru Bian (Selangau)
  7. Rozman Isli (Labuan)
  8. Salahuddin Ayub (Pulai)
  9. Amiruddin Hamzah (Kubang Pasu)
  10. Teo Nie Ching (Kulai)
  11. Isnaraissah Munirah Majilis (Kota Belud)
  12. Mahfuz Omar (Pokok Sena)
  13. Khalid Samad (Shah Alam)
  14. Tengku Zulpuri Shah Bin Raja Puji (Raub)
  15. Maria Chin (Petaling Jaya)
  16. Wong Shu Qi (Kluang)
  17. Teresa Kok (Seputeh)
  18. Dr Dzulkefly Ahmad (Kuala Selangor)
  19. Dr Lee Boon Chye (Gopeng)
  20. Kasthuriraani Patto (Batu Kawan)
  21. P Prabakaran (Batu)
  22. M Kulasegaran (Ipoh Barat)
  23. Chong Chieng Jen (Stampin)
  24. Nor Azrina Surip @ Nurin Aina (Merbok)
  25. Sivarasa Rasiah (Sungai Buloh)