PETALING JAYA: The government's new economic stimulus package is not just to give cash handouts but also to ensure that the nation's economy continues to operate, says Tan Sri Annuar Musa.
The Federal Territories Minister said the economic stimulus package, also known as package "prihatin" (caring package), aimed to help the B40 and M40 community by increasing their liquidity and ability to spend.
"The nation's economy needed a boost for growth and the public funds needed to be seen to be obtained to enable Malaysians to have extra cash in their pockets," he said in a statement Saturday (March 28).
Annuar said the economic stimulus package will ensure a good balance between the people's economy without it undermining the nation's economy.
"An intervention is badly needed right now and the government has no choice other than to decide on a huge stimulus package to ensure that the economy would continue to grow.
"Without intervention, the country's domestic output will continue to contract and may become negative if the government did not take urgent action," he said.
Annuar noted that Kuala Lumpur City Hall (DBKL), Putrajaya Corporation (PPj) and Labuan Corporation would be making adjustments to the Wilayah Cakna initiative in accordance with Prime Minister Tan Sri Muhyiddin Yassin's call to offer better deals to rental tenants and those in public housing.
"Adjustments to the National Economic Action Council (PPR-MTEN) housing rental, DBKL People’s Housing Projects (PPR) and business premises under DBKL, PPj, and Labuan Corporation alone will involve additional costs of about RM35.8mil," he said.