PUTRAJAYA should grant an immediate three-month loan moratorium and cash aid to help Malaysians overcome the third movement-control order (MCO), said Zairil Khir Johari.

The DAP Assistant National Publicity Secretary said it was crucial that the government addressed the issue as Malaysians in every demographic of society were now struggling to get by.

He said that the people were further burdened by constant inconsistencies and flip-flopping, which serve only to confuse those who were already fuming with the disproportionate and inequitable enforcement of standard operating procedure (SOP).

“With the imposition of MCO 3.0, I urge the federal government to immediately issue a three-month loan moratorium and other supportive packages to reduce the economic burdens that are sure to threaten our society,” said the Tanjung Bunga state rep in a statement today.

Yesterday, Putrajaya imposed a national lockdown from Wednesday, as cases trended above 3,000 and 4,000 for a few weeks, less than a month after Prime Minister Muhyiddin Yassin promised no additional nationwide restrictions.

In a statement, the prime minister said the restrictions against inter-district and interstate traveling and social activities, sports and education were effective from May 10 until June 6.

“Other restrictions will commence on May 12 till June 7,” said Muhyiddin.

Zairil said with small- and medium-sized enterprises (SMEs) employing almost half of Malaysia’s labour force, a loan moratorium would have an immediate impact to this important sector of the economy.

“Business owners can improve their cash flow while employees will be encouraged by increased job security.

“With the youth unemployment rate recording a worrying high of 13.9% earlier this year and unemployment generally hovering around the 4.8% mark, a loan moratorium would undoubtedly help save many jobs.”

He added that a loan moratorium, such as the one implemented last year following the first MCO, would provide instant relief to millions of borrowers besides lubricating the economy with some badly needed liquidity.

Zairil also said that there should be a three-month cash assistance for the B40 and M40 groups.

“Despite a total of six stimulus packages announced to date, totalling RM340 billion (Prihatin RM250 billion, Prihatin SMEs RM10 billion, Penjana RM35 billion, Kita Prihatin RM10 billion, Permai RM15 billion, and the latest, Pemerkasa RM20 billion), coupled with the raiding of the National Trust Fund (KWAN), it is evident that all these lofty numbers are not felt by the man on the street.

“On top of that, it has also been apparent that the pandemic has.. affected the lower earners in society disproportionately more.”

He said Putrajaya should consider providing targeted monthly cash assistance of RM1,000 for the B40 and RM500 for the M40 for three months.

“On top of the loan moratorium, such a measure will definitely go a long way in assisting those worst hit, especially with the need for online learning as schools are shut once again.”

He added that despite the state of emergency imposed since January this year, the Perikatan Nasional government has clearly failed to curb the pandemic.

“Worse, the latest imposition of a month-long nationwide lockdown, with the possibility of further extensions if things don’t improve, threatens to unravel the socio-economic fabric of our society if urgent economic measures are not taken to address them.” – May 11, 2021.