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FMM: PEMULIH is timely for businesses to survive

FMM In The News: EdgeProp, PETALING JAYA, Tuesday, June 29, 2021 -  The six-month loan moratorium and the enhancement of the Wage Subsidy Programme (WSP) under the National People’s Well-being and Economic Recovery package (PEMULIH) are timely measures for the survival of businesses during lockdown, said the Federation of Malaysian Manufacturers (FMM).

In a media statement today, FMM lauded the government’s announcement on the PEMULIH package yesterday (June 28), especially for the loan moratorium and the allocation of RM3.8 billion for the WSP. 

Proven to be instrumental in the past, FMM believed that the moratorium and WSP will be critical to keep businesses moving forward especially businesses within the non-essential sector that are unable to operate during this period.

“We urge the government to extend the automatic bank loan moratorium for all companies irrespective of size and give the option to those that do not require the assistance to opt-out,” said FMM president Tan Sri Soh Thian Lai in the statement.

FMM is also looking forward to some reprieve in their energy costs especially electricity and gas as energy cost is a substantial cost element for most and industries would be caught by the maximum demand charge for electricity and the Take-Or-Pay element in their gas off-take agreement. 

“A similar discount as accorded to the tourism, retail and hospitality sectors would have been most welcomed especially for those in the non-essential sector,” he added.

Lauding the government effort in accelerating the immunisation effort of the manufacturing sector by allowing companies to claim 10% of their remaining levy from HRD Corp and the government consideration to allow companies to operate at optimum levels once all employees are fully vaccinated, FMM also urged the government to allow a similar vaccination programme for the private medical sector.

“FMM would like to reiterate its call to the Government to allow to a parallel vaccination programme by private hospitals and clinics and for the National Pharmaceutical Regulatory Agency (NPRA) to accept WHO-approved vaccines without imposing additional requirements at the national level so that the private sector can purchase vaccines not used by the National Immunisation Programme and expedite the vaccination process of all,” said the statement.

On the basis of the prohibitions of sector operations, FMM has also called on the government to reconsider allowing export-based sectors and those part of the global supply chain to resume operation as essential sectors are supported by the supply chain.

“To minimise the impact on both the industry and economy, states and areas where the cases are lower and under control should be allowed to operate without any distinction between essential and non-essential sectors,” it added.

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