From moratoriums to subsidies, business group makes lockdown wish list

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The association also called for soft loans to be given to businesses, and a six-month wage subsidy programme for all industries, except those which remain open.PETALING JAYA: Loan moratorium, wage subsidy and discounts on utility bills are among the initiatives a major business group wants the government to introduce to help companies survive the two-week lockdown.In a statement, the Federation of Malaysian Business Associations (FMBA), which comprises a coalition of business groups, said they welcomed the total lockdown which begins on June 1 owing to the worsening Covid-19 situation.But it said this will bring domestic demand to a halt and have an impact on unemployment, disposable incomes, and investments.So, FMBA proposed five initiatives the government could take to mitigate the economic risks of the lockdown, namely, an automatic loan moratorium, financial support, wage …