Govt Must Be Brave Act Fast Says Najib

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Najib Razak says the government should implement a ‘circuit breaker’ in any state that reaches 85% ICU capacity. (Bernama pic)KUALA LUMPUR: Prime Minister Ismail Sabri Yaakob’s administration must be bold and act fast to address the Covid-19 situation and speed up the country’s economic recovery, says Najib Razak.
Najib (BN-Pekan) said this in the Dewan Rakyat today after giving the new government a slew of suggestions on the pandemic and the economy.
On Covid-19, the former prime minister said the government should implement a “circuit breaker” in any state that reaches 85% Intensive Care Unit (ICU) capacity. This circuit breaker should not be extended.
“We should not carry out a lockdown for months but we must control Covid-19 for the sake of the people,” he said.
He also spoke on the Covid-19 situation among foreign workers in the country, saying they should be given four months to get vaccinated.
“Give them time, if they still refuse to get vaccinated, strong measures must be taken, including deporting them to their home countries.
“After four months, those who continue to employ unvaccinated foreign workers must be jailed.”
On the economy, Najib called for an i-Survive loan scheme for the bottom 40 (B40) and middle 40 (M40) groups since the government was short of funds to help the people.
Under this scheme, he said, borrowers would be eligible for loans of between RM3,000 and RM5,000 with a three-year repayment period and a maximum interest rate of 3%.
This loan should be guaranteed by the government and would not burden banks, which were highly profitable, nor lead to increased debt for the government.
Najib also proposed that the government raise funds by selling its shares in Digital Nasional Berhad, which is developing the country’s 5G infrastructure to local telecommunication companies.
“This can generate revenue for the country and reduce the government’s expenses for the RM15 billion project,” he said.
He said the government should also seek a share of profits from tech giants like Amazon, Netflix, YouTube, Google and Facebook that profited from countries but did not pay taxes. Other countries like Australia and Indonesia were already working towards this.
Najib also said the government should introduce a Covid-19 recovery tax package to help boost its revenue. This two-year tax package would include taxes on the rich, including a windfall tax, tax on the development of luxury condominiums, stamp duties on property and share transactions and an increase in personal taxes for high-income individuals.
He also said there was a need to make the stock market more dynamic, appealing and exciting. As such, the government could suspend regulated short selling and script borrowing or lending for six months to stabilise the stock market and protect retail investors.
“Malaysia needs to implement a more relevant vision that can draw international investors and speed up infrastructure projects that can provide high-value opportunities to the people,” he said.
“This will tell the world that Malaysia is back.” - FMT

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