The Government will improve on existing aid packages given to Small and Medium-sized Enterprises (SMEs) to help them further mitigate the effects of the Covid-19 pandemic.

Entrepreneur and Cooperative Development Minister Datuk Seri Wan Junaidi Tuanku Jaafar said the aid packages will be announced by Prime Minister Muhyiddin Yassin next week after discussions at the ministry level are brought to the Economic Action Council (EAC).

  
"We will wait for the prime minister's announcement on the issues we can resolve and fulfil for the benefit of SMEs," he said before appearing as a guest on a talk show programme on Bernama News Channel.

"We cannot deny their contributions to the nation's gross domestic product (GDP)." he added.

SMEs which make up of 98.5% of all businesses in Malaysia, have voiced out their dissatisfaction over the RM250 billion Prihatin Rakyat Economic Stimulus Package (Prihatin) announced by the Government last week.

Elaborating further, Wan Junaidi said the priority is to fight and overcome the Covid-19 pandemic given the current circumstances the nation is in.

"We need to first prioritise the effort to flatten the pandemic curve. We do not want to be like Italy. The economy may prosper as much as it wants, but this would mean nothing if there are countless deaths here and there.

A special Cabinet committee has been established to develop strategic measures to safeguard Malaysia's economy while maintaining effective enforcement of Movement Control Order (MCO).

“As soon as the Movement Control Order was enforced, the government was already aware of these issues, we are also concerned and do not wish to see the possibility of many SMEs folding. 

“And that is why the government had asked for a moratorium and rental waivers to be agreed upon first. Right now we are even helping small and informal businesses such as the makcik who sells kueh,” he added. 

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News Source: BERNAMA