Business Groups Tweak Budget 2021 Or Risk Bigger Fallout



(Focus Malaysia) – BUSINESS associations upped the pressure on Finance Ministry, urging the latter to add more provisions in Budget 2021 to help enterprises survive during the COVID-19 pandemic.
In a joint statement, several business organisations urged the Government to provide more sustainable and meaningful intervention before more businesses get crushed due to the economic downturn.
“Currently, small and medium enterprises provide employment to about 48.4% of Malaysians.
“Based on the statistics by the Social Security Organisation (Socso) in Aug, the manufacturing sector had reported job losses of about 24%.
“It is followed by the accommodation and food and beverages sector (15%) and wholesale and retail sector (14%) – the three worst affected industries.
“Although most businesses are permitted to run as usual, the extended conditional movement control order (CMCO) has placed businesses, particularly retail and restaurant, in a difficult situation,” it said.
The joint statement was signed by the Malaysia Retail Chain Association, SME Association of Malaysia, Bumiputra Retailers Organization and Malaysia Shopping Malls Association (PPK).
Two weeks ago, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz tabled Budget 2021 at the Dewan Rakyat worth RM322.54 bil.
The expansive budget was an addition to the six stimulus packages worth over RM300 bil announced this year, aimed at reviving the economy and push assistance towards those affected by the COVID-19 pandemic.
The minister also rejected calls for a blanket loan moratorium extension, adding it will only be extended on case-by-case basis.
However, the business groups were not impressed by the Government’s proposal.
They added that if the Government does not help them to address fundamental issues plaguing businesses, the rate of job losses will spike from Oct onwards due to more closures.
“And this will cause cascading effect on the economy as when more companies fold, the Government will automatically lose a sizeable chunk of revenue from corporate income tax.
“Take note that SMEs contributed to about 38.9% to the nation’s gross domestic product last year,” it said.
On what the Government can do to address their concern, the business associations recommended the following:
Tenant relief assistance through direct financial assistance to shopping mall owners and landlords; Waiver of statutory payment for businesses; Targeted tax incentive for retail and tourism spending; Extension of wage subsidy programme; Tax relief for safety and hygiene expenditures; Extension of bank loan moratorium; Restart tourism via a ‘Travel Bubble’ programme; and COVID-19 standard operating procedures compliance certification for retail and restaurant premises. “We welcome dialogues with the Government through relevant ministries to develop a sustainable solution to help businesses weather this unprecedented situation,” added the business associations.
Many have panned the recent budget, saying it did not offer holistic solution to remedy the lives and livelihoods of Malaysians affected by COVID-19.
To date, Parti Amanah Negara (Amanah) had announced that they will not vote for Budget 2021 until amendments are made.
The announcement may not bode well for the Government as the latter only holds a two-seat majority at the Dewan Rakyat, while Amanah has 11 seats.
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2020/11/15/business-groups-tweak-budget-2021-or-risk-bigger-fallout/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Business Winners And Losers In The 2021 Budget

Business Winners And Losers In The 2021 Budget

papar berkaitan - pada 7/11/2020 - jumlah : 136 hits
Glove manufacturers were spared a windfall tax on their enormous profits KUALA LUMPUR Malaysia has unveiled its biggest ever to help the virus ravaged economy get back on track for rapid growth allocating RM322 5 billion in total expenditur...
Rebelling Mps May Force Muhyiddin To Tweak Jasa Allocation To Secure Budget 2021

Rebelling Mps May Force Muhyiddin To Tweak Jasa Allocation To Secure Budget 2021

papar berkaitan - pada 9/11/2020 - jumlah : 106 hits
Opposition MPs who initially indicated a to support Prime Minister Muhyiddin Yassin s Budget 2021 are now weighing their options amid a controversy surrounding the Perikatan Nasional government s plan to spend RM85 5 million in order to rev...
Yoursay Budget 2021 Will Govt Cut Our Super Sized Cabinet

Yoursay Budget 2021 Will Govt Cut Our Super Sized Cabinet

papar berkaitan - pada 3/11/2020 - jumlah : 101 hits
YOURSAY Most corporate organisations apply cost rationalisation in difficult times Clever Voter The country has an endless list of corruption cases that even the Parliament building isn t large enough to display all of them Billions of ring...
Budget 2021 Amanah Mps Hint Of Support If In Malaysians Interest But Pkr Lawmakers Would Rather Wait And See

Budget 2021 Amanah Mps Hint Of Support If In Malaysians Interest But Pkr Lawmakers Would Rather Wait And See

papar berkaitan - pada 3/11/2020 - jumlah : 120 hits
Parti Amanah Negara vice president and Pokok Sena MP Datuk Mahfuz Omar said the Budget should not be viewed only in terms of addressing the Covid 19 pandemic but holistically as in previous years Picture by Yusof Mat IsaKUALA LUMPUR Nov 3 O...
Is Budget 2021 A Boost To Malaysia S Smes

Is Budget 2021 A Boost To Malaysia S Smes

papar berkaitan - pada 8/11/2020 - jumlah : 189 hits
Malaysia s SMEs need to expel the three million foreign labour much of it illegal immigrants introduce a higher minimum wage increase salaries and give those jobs to Malaysians However to do that they need to first be less labour dependent ...
The Unity Budget 2021

The Unity Budget 2021

papar berkaitan - pada 2/11/2020 - jumlah : 133 hits
Bridget Welsh Malaysiakini Over the weekend Malaysian politics adopted a different pattern away from division towards cooperation For the first time there were publicised discussions with opposition non dominant parties over the national bu...
Takiyuddin Budget 2021 Free For Debate Sufficient Time Given

Takiyuddin Budget 2021 Free For Debate Sufficient Time Given

papar berkaitan - pada 9/11/2020 - jumlah : 131 hits
ALOR SETAR Government backbenchers or the Opposition are free to debate Budget 2021 in Parliament if there are dissatisfactions Minister in the Prime Minister s Department Datuk Takiyuddin Hassan said He said eight days have been a
Pm Muhyiddin Confident Economy Will Continue To Grow Under Budget 2021

Pm Muhyiddin Confident Economy Will Continue To Grow Under Budget 2021

papar berkaitan - pada 8/11/2020 - jumlah : 173 hits
Prime Minister Tan Sri Muhyiddin Yassin is optimistic that the country 8217 s economy will continue to grow under Budget 2021 that spells out many extraordinary incentives as well as creates many new job opportunities AFP file photo KUALA L...
Budget 2021 Rm31 9 Bln Allocated To Health Ministry More Than Last Year Zafrul

Budget 2021 Rm31 9 Bln Allocated To Health Ministry More Than Last Year Zafrul

papar berkaitan - pada 8/11/2020 - jumlah : 153 hits
The RM31 9 billion allocation for the Ministry of Health under Budget 2021 is higher than the RM30 6 billion allocated for 2020 says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz 8211 Bernama file photo KUALA LUMPUR The RM31 9...
Bpr Dalam Proses Pengkreditan

Masak Kicap Ikan Kerisi Yang Sedap

Speak Up For Ain Or Resign Maszlee Tells Minister

Zaman Pn 151 Rakyat Meninggal Dunia Dalam 8 Hari Yang Lalu

Semakan Gkp Tambahan Permai Kemaskini Akaun Gagal Kredit

Iq Netizen Mengatasi 70 Menteri

Believe In Your Children Says Ain Husniza S Mother

10 Lokasi Warung Absurd Yang Bikin Gagal Fokus Bikin Pembeli Bingung Dan Mikir Dua Kali



Info Dan Sinopsis Drama Berepisod Forensik Astro Citra

5 Filem Tentang Ibu Yang Menakutkan

Kenapa Kapal Terbang Meninggalkan Garisan Asap Putih di Udara

Resepi Biskut Marble Susu Cappuccino Paling Gebu dan Cair di Mulut

5 Kontroversi Terbesar Yang Dicetuskan Oleh Neelofa


Koolit Cooling Moisturiser Mampu Atasi Kulit Kering Dan Gatal

Ambil Iktibar Dari India Kata Dr Noor Hisham

Kenapa Zuraida Kata Pkr Sudah Mati

Filem Dekatnya Cinta

Iftar 27 Kari Kepala Ikan

Empat Premis Di Pulau Pinang Disenarai Hide Dibuka Semula Esok