Pakatan Harapan questions Muhyiddin’s stimulus package but offers no alternatives

“Where is the source of the RM250 billion allocation? I suggest to the Prime Minister to seriously consider,” says Anwar Ibrahim. IDEAS, on the other hand, says, “While lauding the government’s “significant effort”, questions will be asked sooner or later over how its plan will be financed.”

THE CORRIDORS OF POWER

Raja Petra Kamarudin

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Source of allocations? Anwar wants stimulus package debated in Parliament

(Malaysiakini) – PKR president Anwar Ibrahim has suggested to the Prime Minister Muhyiddin Yassin to allow certain allocation for the economic stimulus package to be debated in the parliament.

While expressing his support over Muhyiddin’s announcement on the package, Anwar said the debate is necessary so there’s a guarantee that the allocation will reach the people as promised.

PM Announces RM250 Billion Economic Rescue Plan: PAKEJ RANGSANGAN EKONOMI RM250 BILION (VIDEO)

“In democratic countries such as South Korea, Japan, and Australia, their stimulus packages were debated in the parliament and closely monitored.

“Where is the source of the RM250 billion allocation? I suggest to the Prime Minister to seriously consider.

“Give room to the MPs to debate with the intention to enhance (the package) so the people get the allocation as promised.

“(the debate) and also to lift up the economic growth. No country can sustain with just spending without generating income,” he said in a Facebook Live via his Facebook page today.

Meanwhile, the Port Dickson MP guaranteed that the opposition will support the government’s effort to ensure the efficiency of the stimulus package.

PM Announces RM250 Billion Economic Rescue Plan

This was despite Muhyiddin mentioned that his government was not voted by the people, Anwar said.

“I would like to give my guarantee, although the Prime Minister mentioned that the people did not vote for the government, I guarantee that we will cooperate so that the stimulus package works and that there will be no leakages,” he said.

Anwar also advised the people to observe the Movement Control Order and adhere to the enforcement agencies monitoring the order, as well as to the health workers.

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How will Putrajaya finance RM250 bil rescue package, asks economist

(FMT) – An economist has raised question marks over how the government plans to fund the RM250 billion economic stimulus package announced by Prime Minister Muhyiddin Yasin today.

Carmelo Ferlito, of the Institute for Democracy and Economic Affairs (IDEAS), said the package makes up about 16% of the nation’s GDP, which was around US$370 billion, adding that this was a major challenge.

While lauding the government’s “significant effort”, he said questions will be asked sooner or later over how its plan will be financed.

“This is the biggest question mark I have with regard to the announcement,” he told FMT, adding that it would be interesting to see the financing sources for the stimulus package.

He also raised doubts over the government’s preparedness should the Covid-19 crisis last longer, highlighting that the cash handouts in the package will only last one to two months.

PAKEJ RANGSANGAN EKONOMI RM250 BILION: JELAS TERBUKTI MAHATHIR DAN GUAN ENG BERBOHONG MENGENAI KEDUDUKAN KEWANGAN NEGARA

“What happens if — God forbid — the issue lasts longer? We risk that as we have already fired our best shots,” he said.

He welcomed Putrajaya’s “clear intention” to support the medical sector and health ministry through the package, stressing the importance of frontliners in fighting the war against the virus.

“However, one of my main doubts is: are we tackling the issue from the right perspective?”

Carmelo said the magnitude of the outbreak in Malaysia was less than that faced in Wuhan (China) or Italy, adding that there seemed to be a cheaper and more effective way to manoeuvre through the crisis.

He questioned if the halt in the economy was really necessary, saying that the move risks doing more harm than the virus itself.