INTERIM PRIME MINISTER TO ANNOUNCE ECONOMIC STIMULUS PACKAGE

ZARUL EFFENDI RAZALI

KUALA LUMPUR, Feb 26 (Bernama) -- The much-awaited economic stimulus package, which is scheduled to be announced tomorrow, is said to be the first official event for Tun Dr Mahathir Mohamad as the interim Prime Minister.

The stimulus package will be announced in Putrajaya at 4pm.

The need to introduce the stimulus package was proposed by the Pakatan Harapan government as early as January to mitigate the adverse external economic impacts of the COVID-19 outbreak on Malaysia while preserving the welfare of the rakyat.

Among others, it is expected to focus on consumption, investment and tourism sector, while stimulating domestic economy and travel, which have been affected by the outbreak.

The Ministry of Finance (MoF), on Tuesday, indicated that the economic stimulus package would be announced by Dr Mahathir in his capacity as the interim Prime Minister.

On Monday, Dr Mahathir submitted his resignation as the seventh premier. The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who accepted the resignation, reappointed Dr Mahathir as the country’s interim Prime Minister later in the day.

On the advice of Dr Mahathir, His Majesty also revoked the appointments of all ministers.

In a three-paragraph statement, the Chief Secretary to the Government Datuk Seri Mohd Zuki Ali said during the interim period, Dr Mahathir would manage the country’s administration until the appointment of the new prime minister and the formation of a new cabinet.

Malaysia is not the only ASEAN nation planning a stimulus package to address concerns over COVID-19. Thailand's Finance Ministry will be proposing a new economic stimulus package to the cabinet in mid-March.

-- BERNAMA

 

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Dr Mahathir Mohamad, Interim Prime Minister, Stimulus Package, COVID-19, resignation