Guan Eng: With more lockdown extension, stimulus package cannot be cosmetic

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Former finance minister Lim Guan Eng has warned the Perikatan Nasional government that the forthcoming eighth economic stimulus package to be unveiled in the coming days must not be cosmetic in nature.Instead, he called for it to comprise an automatic bank loan moratorium with interest waivers until the end of the year, and a minimum RM45 billion fund injection to offset the expected economic losses of RM170 billion incurred from the current movement control order(MCO) total lockdown."The PN government has finally bowed to pressure from the public and opposition MPs, following Finance Minister Tengku Zafrul Abdul Aziz’s announcement of a bank loan moratorium and Employee Provident Fund (EPF) withdrawals via the i-Sinar facility."However, it has refused to admit the current MCO total lockdown will cost the economy RM170 billion beyond saying that the country will lose…