Additional RM45b injection to Covid-19 economic aid vital

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MP SPEAKS | Over 41 percent of Malaysian manufacturers said their businesses would only be sustainable for less than a year, as a result of revenue loss following the Covid-19 lockdown, according to a survey by the Federation of Malaysian Manufacturers-Malaysian Institute of Economic Research (FMM-MIER). What is interesting is those in the FMM July survey say they can last for 12 months, due to the government stimulus packages, wage subsidies and bank moratoriums. Clearly, an additional RM45 billion is needed to the existing RM45 billion fund injection (total RM90 billion) to save not only Malaysian jobs, small and medium enterprises but also manufacturers. Manufacturing is a key component of the Malaysian economy, contributing 21 percent of the gross domestic product (GDP) and over 80 percent of total exports in 2019. With the International Monetary Fund predicting a global econo…