THE opposition will back government plans to increase funding to aid citizens and an economy battered by the Covid-19 pandemic, said Anwar Ibrahim.

The opposition leader told the Dewan Rakyat today that the RM45 billion allocated under the Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19)) Bill 2020 is insufficient given the 17.1% contraction in Malaysia’s second-quarter gross domestic product.

With the weakest GDP growth among regional peers, the country’s RM290 billion allocation through three stimulus packages is among the lowest, said Anwar, citing Statistics Department data.

A stimulus package accounts for 3% of the nation’s GDP.

The Port Dickson MP urged the Finance Ministry to seriously consider injecting more funds and step up economic recovery efforts, saying the focus should be on stimulating growth.

Explaining the opposition’s rejection of the Supply (Reallocation of Appropriated Expenditure) Bill 2020 last Monday, he said the proposed increase in allocation was meant for ministries, and not for economic recovery or the people’s welfare.

“What we rejected was the wastage of allocation through the (reallocation of funds) to ministries. We felt that it was not focused on (economic) recovery or stimulus packages to help the unemployed.

“That’s why today, we are here to not only support, but to propose to the finance minister, an increase in allocation on a larger scale, so as to increase the (positive) effects on the economy,” he said of the Temporary Measures Bill, which is being debated by MPs and will be voted on by the day’s end.

He added that any increase in funding must not be used for ministries or to add posts in government-linked companies.

The finance minister must ensure transparency so that no wastage occurs and the money is used for the people’s benefit, said Anwar. – August 24, 2020.