WITH the brouhaha over the darurat now at least temporarily out of the way, all eyes are now on the tabling of Budget 2021. Despite open calls to end politicking and various references made to it being a “unity” budget, little effort to reach across the aisle has been made on the part of the government, other than calling it as such. 

Apart from a consultation session with the finance minister and opposition representatives last week, there haven’t been much bipartisan efforts to jointly combat the Covid-19 pandemic, nor the damaging economic aftermath.  

Meanwhile, there have been reports on the lack of PPEs in the front-line state of Sabah, where numbers are rising with no immediate sign of respite. 

While much effort has been made to assist the Borneo state, a lot more political will needs to be poured in, and not just reliance on efforts by private individuals, civil society and the business community. 

Even if they lack funds, the state and federal governments can play their role in coordinating efforts to send aid safely and securely. For example, they could rent aircraft that are underutilised to help both Sabah and the critically hit air transport industry.  

Hotel rooms could also be provided, again to help sustain ailing tourism players while encouraging healthy and low-risk volunteers into the state. 

The pandemic in the Klang Valley, too, doesn’t look like it’s going to abate anytime soon. 

While Sabah may be hit worse in terms of actual infections, Selangor, Kuala Lumpur and Putrajaya have recorded a number of virus cases, an arguably graver economic risk. 

Things are already beginning to look dire. 

To date, a major Malaysian airline has laid off 2,000 staff. 

To cut its losses, cinemas have decided to shutter for a month. 

The low loads in buses and public transport are creating a bigger deficit that the government needs to fill soon. 

Several international chains and factories have also decided to close shop in Malaysia. 

We are luckier than most in a few ways. 

We have a relatively mature government-linked company (GLC) or state-owned enterprise (SOE) scene, where years of monopolies have created stable business and cash reserves. 

We are a relatively important medical disposable and manufacturing player, regionally.  

On the macroeconomic level, these have helped to cushion our losses incurred by tourism, leisure and related industry slowdowns. 

At the lower level, our gig-based scene has matured and attained a comfortable reach, able to both serve as an auxiliary sales channel for hard-hit businesses and provide alternative work for many displaced workers. 

Even with all that, the toll of nine months of a sluggish and struggling local economy has taken its toll, to the point where property prices have begun to slowly dip, and desperate EPF account holders are starting to ask to be allowed to withdraw their pension savings.  

It is a good time to explore the idea of a universal basic income, at least temporarily. 

More steps should be taken to safeguard key Malaysian businesses to avoid them from going into freefall. Some industries, like the airline sector, not only employ many Malaysians, they also act as our brand ambassadors that indicate, among others, our economic health, while others like hotels and small grocers play a big role in supporting small local businesses and local entrepreneurs. 

Instead of only looking at inside borrowing and pressuring GLCs to spend more as corporate social responsibility (CSR) or aid funds, perhaps an alternative approach could be to set up a fund to invest in these struggling but viable businesses in exchange for ownership by either these GLCs or the government directly. 

Being connected to these entities would also provide channels for sales, training, mentorship and business connections. 

The businesses not only benefit from the assistance directly, but will even get the chance to grow and, in turn, employ more people and create smaller ecosystems. 

While the needs of the B40 are paramount, let’s also take a second look at the M40 and ensure they, too, survive this without taking on too much water in their ships. 

The government needs a targeted, well-balanced plan, not one that shoots from the hip or gambles precious resources we cannot afford to lose. 

Put largesse and nice-to-haves in the back seat and let the people’s needs drive this budget, for the country’s sake and survival. – November 4, 2020.

* Emmanuel Joseph firmly believes that Klang is the best place on Earth, and that motivated people can do far more good than any leader with motive.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.