Trade body hopes for more economic sustainability

SEREMBAN: Although the Budget is wholesome, the government should have spelt out fast-track short- and long-term recovery initiatives to counter the effects of the Covid-19 pandemic, says Brics-Asean president Thayalan Nathan.

“There are lots of goodies but these are more for short-term spending. We forget that we are not a huge nation like India or Indonesia which has huge populations and with their purchasing power, they can do more to stimulate the domestic economy,” said Thayalan.

Brics-Asean is a trade organisation representing inter-governmental organisations from Brazil, Russia, India, China, South Africa and Asean.

More could be done to promote trade and tourism so that Malaysia could compete against fast-growing economies such as Vietnam and Indonesia, he added.

“There has to be economic sustainability if we are to become a regional economic powerhouse.

“It is my hope that the government will come up with plans to attract more foreign direct investment and measures to promote trade and tourism which will do a lot more good to our economy,” he said.

Parti Punjabi Malaysia president Datuk Gurjeet Singh Rhande said the RM100mil allocated to Mitra was laudable but it was time Sikh non-governmental organisations were also provided direct financial support.

“The Budget has covered all aspects but it is our hope that some allocation will also be given to Sikh NGOs as every one is feeling the pinch during these trying times,” he added.