THE RM5 billion fiscal injection for MCO 3.0 is insufficient to mitigate the effects of the lockdown to curb the spread of Covid-19, said Pakatan Harapan’s (PH) presidential council.

Instead, the opposition pact’s leaders proposed a RM45 billion cash injection into the economy, in response to the government’s latest aid package announced last night for the hard lockdown that begins today until June 14.

“The government should give monthly welfare payments of up to RM1,000, costing RM7 billion for the remaining seven months of the year or until the completion of the national immunisation programme,” the council said in a statement.

It also proposed a moratorium for bank loan repayments, excluding the top 20%, until the vaccination programmes is completed, instead of the opt-in or targeted moratorium.

“This will help eight million individuals and companies. The cost should be borne by the banking industry, which recorded healthy profit after tax of nearly RM23 billion for 2020, compared to RM32.3 billion in 2019.”

PH also urged the government to extend work hiring incentives for two years, comprising wage incentives of RM500 a month for local employees and hiring incentives of RM300 per month for employers to create 300,000 jobs.

It said that the government should allocate RM3.5 billion for the Health Ministry to ramp up the vaccination programme and increase hospital capacity.

It also proposed a RM28 billion allocation in the form of grants for rental and utility subsidies.

“As a first step towards a whole-of-society approach to battle Covid-19, Parliament should be reconvened immediately and all MPs, including the opposition, should be given equal constituency allocations to help Malaysians, until the pandemic is over.

“Covid-19 affects all Malaysians whether they are pro-PN or pro-PH.” – June 1, 2021.