FMM: RM200b stimulus plan needed for SME manufacturers

People waiting to get vaccinated in a mobile vaccination truck at Kampung Baru in Kuala Lumpur, June 12, 2021. The government deployed vaccination trucks to areas where people might have difficulty getting to immunisation centres through the MYMedic@Wilayah Vaccine Mobile Truck pioneer project. — GLENN GUAN/The Star

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has asked the government to pump a RM200 billion stimulus package, with a RM30 billion direct fiscal injection, into the economy over concerns that the extension of the movement control order (MCO 3.0) may have a devastating impact on small and medium enterprise (SME) manufacturers.

President Tan Sri Soh Thian Lai said with almost 80 per cent of all businesses falling into non-essential sectors that were not allowed to operate and with only 60 per cent capacity operations allowed for essential sectors, the extended lockdown would certainly cripple the entire manufacturing sector and its contribution to global supply chains.