MCO 3.0 not impacting economy? Najib says govt only protecting the rich, but the poor sidelined with unfair restrictions
KUALA LUMPUR, May 12 ― Datuk Seri Najib Razak today took the finance minister and the Bank Negara Malaysia (BNM) governor to task, for claiming the new movement control order dubbed MCO 3.0 will not pose a significant impact on the nation's economy.
Taking to his Facebook, the convicted former prime minister accused the government of favouring the rich over the poor with its lopsided rules, and said that the export and manufacturing sector, and the economy affecting the public should not be placed equally.
He said that the government's approaches to the MCO 2.0 and the MCO 3.0 are very different, as the affluent and foreign factory owners are protected, while ordinary people are told to make sacrifices and continue to face the high number of Covid-19 cases for eight months since the third wave began last October.
“The export and manufacturing economies, especially electronic goods are strong currently because giant economies such as the United States (US) and China are recording unusually high economic growth now,” he said.
Najib said that the US's economic growth rate for the first quarter of 2021: is 6.4 per cent, China 18.3 per cent, Taiwan: 8.2 per cent and Malaysia, -0.5 per cent. However, he said those who profited are the towkays and foreign owners of large factories.
“While there are sectors that are grateful for their huge profits, many other sectors are waiting to collapse,” he said, adding that this was because of the government's confusing and indecisive regulations, ordering some businesses to close and then reopening them within a short time span.
He said that the government must help the people as the economic recovery is now in the 'K' shape and is not equal.
“Eight months with high Covid-19 cases everyday is not a short period, whereas many other countries have managed to control the Covid-19 outbreak in a short period of time. Help those affected. Makcik Kiah was waiting for a special address.
“Do not give the excuse that the MCO 3.0 does not have a big impact on the economy,” Najib said, taking a jibe at prime minister Tan Sri Muhyiddin Yassin who had in the past made live television appearances to announce MCOs and other updates of national importance.
On May 10 however, Muhyiddin issued only a press statement, announcing MCO 3.0 nationwide.
Yesterday, national news agency Bernama reported Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz saying that the implementation of the MCO 3.0, is not expected to have a significant impact on the country’s economic growth as almost all economic sectors are allowed to remain operational.
Despite the recent re-imposition of nationwide pandemic containment measures by the federal government, BNM yesterday maintained its growth projection for Malaysia’s economy at between 6 per cent and 7.5 per cent in 2021.
BNM governor Datuk Nor Shamsiah Mohd Yunus said the impact on growth was expected to be less severe than that experienced last year when the government imposed the first nationwide MCO.
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