Federal gov’t to form special cabinet committee to discuss safeguarding economy measures

MInistry of International Trade and Industry

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KUCHING, Apr 2: A special cabinet committee will be set up to develop strategic measures in safeguarding Malaysia’s economy and labour market impacted by Covid-19.

The aim was to strike a balance between the nation’s economic priorities and the effective enforcement of the movement control order (MCO), said the International Trade and Industry Ministry.

“Other key focus areas of the committee include measures to sustain Malaysia’s economic engines particularly the Small and Medium Enterprises (SMEs) during the MCO and ensure effective mitigation efforts in addressing displacement of labour force among Malaysians.

“The inception of the committee also reflects the government’s quick response to address issues highlighted by the Rakyat and the Malaysian business community,” the ministry said in a statement.

The special cabinet committee will be co-chaired by its minister Datuk Seri Mohamed Azmin Ali and Defence Minister Datuk Seri Ismail Sabri Yaakob.

Members of the special committee will also comprise those involved in the nation’s economy and security.

The ministry added that it will engage industry players from various sectors to gather insights from people on the ground. This effort is key to ensure the committee would address specific issues facing the business community particularly, SMEs, manufacturers and investors.

The committee is scheduled to convene tomorrow (Apr 3) and set to hold its second meeting on Sunday (Apr 5). The committee will then report its recommendations to Prime Minister Tan Sri Muhyiddin Yassin during the Economic Action Council (EAC) meeting on Monday (Apr 6).—DayakDaily