By Adrian Lim
KUCHING, Dec 16: The passing of the federal 2021 Budget after the third reading at Parliament yesterday showed that the Perikatan Nasional (PN) government has the support to continue to administer the country.
Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching branch’s chairman Dato Sim Kiang Chiok believed that the passing of Budget 2021 showed that members of the present government is responsible and voted for the budget.
“In the newly approved Budget 2021, there is still a weakness that are not catered for, as the budget are gearing for recovering of the economy.
“If the budget were failed to be passed, the country might have to hold a general election in the current third wave of the Covid-19 infection.
“This would have serious consequences on our lives as the risk of the fresh election would potentially give a high chance of another wave of Covid-19 infection,” he said in a statement.
Sim noted Budget 2021 seems to be catering for economic recovery from the initial Movement Control Order (MCO) period.
He opined that if Budget 2021 did not get the approval, some of the measures announced in the budget might not be able to be implemented thus might affect businesses and the local economy.
Sim who is also a director of Sim Swee Yong Development and Construction Sdn Bhd suggested that the federal government should provide a blanket moratorium for loans for another six months.
He explained that the loan moratorium could provide time extension which will give breathing space and time for companies to revive and recapitalise their businesses.
It will also provide individuals to have extra money to spend and stimulate domestic demand and consumption which will grow the local economy.
“This is a sensible and logical move to assist all Malaysians to pull through this unprecedented and difficult period.
“We are still facing the third wave of Covid-19 in the country and the infection rates are high.
“Some restrictions have eased but the major economic drivers’ states are still under the Conditional Movement Control Order (CMCO) which will have much economic negative consequences.
The government can still assist the business sector through ministerial power rather than through the budget and Parliament.
“The economy still needs the protection and assistance as it would be harder to revive any business sector from a total lockdown,” he added. —DayakDaily