The COVID-19 Bill, which the government plans to introduce soon, will be similar to what has been implemented and announced in countries like New Zealand and Singapore, says Finance Minister Tengku Datuk Seri Zafrul Aziz.
“This new law will be discussed in Cabinet and be brought to Parliament soon.
“It is an interim relief measure that aims to help Malaysians,” he said in TV3’s programme ‘Money Matters’ today, while declining to elaborate further.
Commenting on the possibility of an extension of the loan moratorium, which ends on Sept 30, he advised banks and customers to engage with each other.
Being a former banker, he acknowledged the challenges faced by banks, but noted that the people and small and medium-sized enterprises (SMEs) are also facing their own set of challenges, such as disrupted cashflows and unemployment.
“I think it is important that banks look at the segment of people and SMEs that still require support and help in restructuring their loans. They should give as much assistance as possible to them,” he said.
Tengku Zafrul emphasised that Malaysia is not in a financial crisis right now, as banks are stronger compared with the situation during the 2008-2009 financial crisis, especially with the high capital buffer of RM121 billion.
Meanwhile, he noted that one of the sectors adversely affected by the pandemic is the tourism industry, which was the first to suffer and will likely be the last to recover.
He said domestic tourism is the key to the industry’s short-term recovery, given that Malaysia has yet to open its borders.
He urged tourism operators to follow strict standard operating procedures so that travellers’ confidence could be restored and the domestic tourism sector could be revived.
On the aviation industry, and whether the government would bail out airlines in these tough times, he said it is important for airlines to seek commercial solutions.
“I do not believe in bailing out shareholders, and none of them has asked to be bailed out. We may look at helping and assisting companies so that they can remain afloat and employment continues.
“So far, there have been no requests from any airlines for the government to give direct financial injections,” he added.
-- BERNAMA
Bernama
Sat Jul 04 2020
TENGKU ZAFRUL: This new law will be discussed in Cabinet and be brought to Parliament soon. - Filepic/BERNAMA
Tiada layanan istimewa kepada Najib - Penjara
Ketua Pengarah Jabatan Penjara, Datuk Nordin Muhammad menegaskan tiada sebarang layanan istimewa diberikan kepada mana-mana individu termasuk Bekas Perdana Menteri, Datuk Seri Najib Tun Razak di penjara.
[TERKINI] SPRM percaya pegawai polis ditahan tidak bergerak solo
Pegawai kanan polis yang ditahan kerana menerima suapan bagi melindungi kegiatan haram di ibu negara mungkin tidak menjalankan aktiviti secara solo.
Agenda AWANI: Desak Israel patuh resolusi gencatan senjata UNSC
Sejauh mana boleh kita menjangkakan Israel akan patuh desakan untuk keamanan yang berkekalan di Gaza meskipun resolusi gencatan senjata UNSC sementara dalam tempoh dua minggu sahaja?
Diskusi 9 malam.
Diskusi 9 malam.
MRT Corp dilantik sebagai pemaju, pemilik Projek LRT Laluan Mutiara Pulau Pinang
Menteri Pengangkutan, Anthony Loke berkata, nilai kontrak dan butiran terperinci tertakluk kepada proses rundingan antara MRT Corp dan SRS yang perlu dimuktamadkan dalam tempoh masa 6 bulan
Kematian pelajar KV Lahad Datu: Reman 13 remaja lelaki disambung
Mahkamah Majistret membenarkan tempoh tahanan reman 13 remaja lelaki bagi membantu siasatan kes kematian seorang pelajar lelaki kolej vokasional disambung hingga 4 April ini.
Rebat tol 20 peratus untuk pengguna kerap LDP ditamatkan
Amanat Lebuhraya Rakyat Berhad (ALR) akan menamatkan program LITRAK Frequent Travellers Program (LFTP) berkuat kuasa 1 April depan.
Pantau Belanjawan: SMEs, local businesses' Industry 4.0 transformative journey
According to MITI in 2018, less than 21% of SMEs implemented this 4IR. Join Chan Leong, the CEO & Founder of Skribble, exploring the realignments and leverages of the adoption of Industry 4.0 among SMEs and local businesses.
Sindiket jual kad ATM tumpas, 2 pegawai bank antara 16 ditahan
Polis Selangor berjaya menumpaskan sindiket penjualan kad mesin juruwang automatik (ATM) untuk dijadikan keldai akaun dengan penahanan 16 individu termasuk dua pegawai bank.
Pintas Utama serah zakat perniagaan RM3 juta kepada Lembaga Zakat Selangor
Sultan Selangor berkenan mewakili Lembaga Zakat Selangor menerima serahan zakat perniagaan berjumlah RM3 juta.
Ibu didakwa aniaya anak lelaki hingga cedera
Seorang ibu mengaku tidak bersalah di Mahkamah Sesyen di sini hari ini atas pertuduhan menganiaya anak lelakinya berusia sembilan tahun.
Lantikan politik di GLC, GLIC perlu letak jawatan - Nik Nazmi
gesaan Ahli Parlimen Setiawangsa, Nik Nazmi Nik Ahmad selepas peletakan jawatan bekas Perdana Menteri, Tan Sri Muhyiddin Yasssin, pada Isnin.