The outcome of online meeting with stakeholder on their take on Budget 2021

My office organised an on-line meeting with stakeholders from the following sectors: restaurant, pharmacy, lawyers, doctors. The purpose of the discussion was to get feed-back on Budget 2021.

There was an unanimous agreement that the Wage Subsidy Fund should be expanded and a Rental Relief Fund should be set-up by the government to help micro businesses and SMEs.

These are the outcomes:

  1. A common trend observed was that all sectors experienced income losse ranging from 60 to 80 since MCO in March.
  2. There is a fear more companies will be forced to close and workers laid off if there is no support from government to pay for workers and rental payment. Workers’ wages and rental of premises constitute the highest cost in operating business.
  3. The suggestion is for the government to allocate more funds in Wage Subsidy Programme and establish a Rental Relief Fund with the view of supporting business and workers for the first six months of 2021.

  4. State government and local council need to provide rental relief for business occupying their premises.
  5. Loan moratoriums should be extended for the first six months of 2021 for business to survive.
  6. The government needs to provide financial assistance to the SMEs, as they contribute to 70% of Malaysian workforce. If SMEs close down, more workers will be laid-off and it would be a disaster for our economy.
Media statement by Charles Santiago in Klang on Wednesday, 18th November 2020