NSTopinion The economy will slow down further with the dislocations and contractions caused by the pandemic
The Prime Minister has announced, in response to a major spike in Covid-19 cases, decisive steps from 18-31 March to arrest the spread of the virus. This “two-week partial lockdown” is a welcome statement of intent but there must be some indication of what will happen next if the epidemic still is not checked. It would help the people to prepare themselves.
Nobody believes you if you said blithely everything is under control and there is a sufficient number of beds to treat Covid-19 patients. With all that is happening around the globe, what people want to know is what would happen if there was a huge spike. Outside China, the number of deaths is increasing, especially in Italy and Iran. What did they not do and have not done? In America, unsurprisingly with Trump, the situation is a shambles. Blame the foreigners is his instinctive political approach. It does not address the spread of the virus in his country.
Competence and clarity give confidence. Mushy statements without clear facts promote panic. Panic will absolutely stretch resources and screw up the economy even further than Covid-19 has already. Better, look at what Singapore is doing, not just in managing the pandemic, but in its economic response to the crisis. The island state which is so dependent on the world economy, is taking the hit, but is planning for the upturn, as can be seen from its Budget 2020.
The Prime Minister has made a stab at addressing the challenges, ands there are some welcome initiatives such as the fund for those losing their income. He has also introduced discounts on electricity tariffs, that would affect 10 million people and enterprises, at a cost of RM500 million. The RM2 billion infrastructure development push is another positive effort.
The government must bring down prices of essentials by doing away with APs which jack up prices to unconscionable levels. The rentier gains to the few must end if the government really wants to be fair to the lower income. APs must be removed. There are tens to hundreds of them issued by three ministries.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'It's crazy': American Covid-19 panic-buying rages onIN UNION, New Jersey, a Target opened at 8am and had sold out of its full stock of milk and bottled water five minutes later. In Austin, Texas, some gas station pumps ran dry. Not a bottle of bleach could be found at a Home Depot in Fairfax, Virginia.
Read more »
Panic buying escalates in Malaysia amid fear of Covid-19 lockdown | Malay MailIPOH, March 16 — Panic buying in Malaysia escalated today after the country yesterday saw a sudden spike in new Covid-19 cases. Pictures and videos of Malaysian heading to their nearest supermarkets and grocery stores to stock up on goods have been making the rounds on social media. Long queues,...
Read more »
Govt to crack down on hoarders, resellers profiteering from Covid-19 panic | Malay MailKUALA LUMPUR, March 16 — The government will be coming down hard on hoarders and resellers of sanitisation products, looking to make exorbitant profits from the Covid-19 pandemic, which has sent demand for such items soaring. Domestic Trade and Consumer Affairs minister Datuk Alexander Nanta...
Read more »
Nation gripped by panic buying as rumours swirl of Covid-19 lockdownLive reports on the Covid-19 pandemic. FMTNews Coronavirus
Read more »
Perutusan khas PM mengenai Covid-19 | The Malaysian Insight
Read more »