KUCHING: Kuching Chinese General Chamber of Commerce and Industry (KCGCCI) secretary-general Jonathan Chai Voon Tok had hoped that the recently announced 2020 economic stimulus package was more comprehensive and included businesses outside the tourism sector.
He said that the package was mainly targeted to benefit businesses in the tourism sector whereas no businesses were spared from the adverse effects of the Covid-19 outbreak.
“All businesses across the board are being affected,” he told New Sarawak Tribune.
“The government must ensure that the relevant ministries and financial institutions, which are assigned to undertake or implement the policies and projects, act speedily to ensure that the spin-off effects can be felt on the ground,” he stressed.
He said what was most important, even more so than any stimulus package, was that the nation needed a stable government to bolster confidence in the market.
“It is high time that politicians in this country pool their time and resources for better productivity,” said Chai.
Chai commended the additional allocation of RM2 billion for the immediate implementation of small infrastructure repairs and upgrading nationwide especially in rural areas, which he said would give positive impacts in stimulating the economy.
Touching on the option provided for employees to reduce their Employees Provident Fund (EPF) contribution from 11 percent to seven percent effective April 1 until December 31 this year, he said that while employees in the lower bracket may welcome the additional disposable income, he cautioned that they should also keep in mind that contributions made to EPF were meant as savings for their retirement.
