PETALING JAYA: The Malaysia Retailers Association (MRA) and Malaysia Retailers Chain Association (MRCA) are urging the government to provide a stimulus budget as well as a relief package that include measures to cope with novel coronavirus, support businesses and its employees, address firms’ short-term cash flow needs, help sectors hardest hit by the epidemic and support families in coping with cost of living.
In a joint statement this afternoon, the groups said they expect an impact on the economy, business and consumer confidence this year, especially if the outbreak is to persist for some time.
“What happens beyond the first quarter will depend on the severity of the outbreak. Therefore, what the government can do to stimulate domestic consumption and assist our local retail market is to approve a temporary measure to reduce employees’ Employees Provident Fund (EPF) contribution by 3% thus putting more cash into the rakyat’s pocket,” they said.
The MRA and MRCA also called for a 50% reduction in electricity tariffs to retailers and shopping malls, and a halt in the the levy payment to Human Resources Development Fund (HRDF).
Furthermore, the groups said they sympathised with tourism-related sectors which are currently facing downward pressure.
“The unexpected drop in tourist arrivals, especially from China could potentially affect the Visit Malaysia Year 2020.
“We hope Tourism Malaysia and related Government agencies has begun to formulate contingency plan, support measures and incentives to encourage more domestic tourism and look for new markets in order that domestic consumption to remain fairly robust in time like this,” they said.
In the meantime, both MRA and MRCA said they will be working very closely with industry partners and relevant government agencies to allay any fear that may arise.
“As responsible retailers, our first line of defence is ensuring that all our employees are in good health and practices good hygiene, both at work and at home. All employees were briefed to seek medical advice immediately should they feel unwell and, to stay home and rest if necessary,” they said.
