In a statement, the former ruling coalition said the US and Germany were rolling out stimulus packages of around the same percentage of their GDPs.

It also welcomed the measures announced by Bank Negara including an automatic loan moratorium for individuals and corporations for up to six months, a recommendation it said it had made six days ago.

“However, the loan moratorium doesn’t help those segments of the population who rent their homes, or small businesses for whom wages represent the highest cost.”

As such, it said, three measures should be implemented at once, the first being Cost of Living (BSH) payments of RM1,000 made for March and an additional RM1,000 in BSH aid for April for all B40 households.

“Cash transfer is the quickest way to inject cash into the hands of low-income households. This would be pertinent to sustain those who are in the informal sector, which doesn’t necessarily provide for a regular income, and who make up a big segment of our workforce.”

PH also said provisions to ease cash flow for small and medium enterprises should be expanded and made interest-free to ensure the companies can maintain their workforce.

It also called for an automatic six-month moratorium on all utilities bills payment.

“Tenaga Nasional, Telekom Malaysia, telcos and others should be directed to provide a six-month automatic and general moratorium for accumulated bills and usage over the next six-month period, and allowing for gradual repayment after the six-month period.“

It said this would help households and businesses to focus on the MCO and the subsequent recovery over a six-month period.

“Immediate and bold actions are needed to deal with these extraordinary times,” it said.

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