Government formulating economic recovery plan for short, medium and long term

Prime Minister Tan Sri Muhyiddin Yassin has directed the Ministry of Finance, Economic Planning Unit (EPU), and the Prime Minister’s Department to formulate a comprehensive Economic Recovery Plan for the short, medium and long term.

He said the plan was aimed at ensuring the economic activities could be revived quickly after the Movement Control Order (MCO) period has ended.

“The focus currently is to identify measures and initiatives that can spur economic growth in the short and medium term, as well as to encourage confidence of the people and investors to regenerate the nation’s economy.

“Among the initiatives that are being formulated are to build capability and skills of the people, encourage domestic spending, increase industry resilience including the small and medium enterprises, as well as cultivate a more positive investment environment for the future,” he said in a special address tonight.

In his address, Muhyiddin also said the MCO which will end on April 28 will be extended for another two weeks till May 12.

He said the government would also consider to reopening several other sectors and sub-sectors subject to strict conditions to guarantee that the companies continue to be competitive while workers can continue working in a safe environment.

The detailed guidelines and conditions will be provided to the investors and
corporate sector to restart their respective operations.

“Even though the MCO may be further extended (after this), companies in specific sectors will be allowed to operate subject to compliance conditions that prioritise workers safety, social distancing and hygiene at the workplaces,” he said.

Source: Bernama