ACCCIS Hopes for More Effective Stimulus Measures
The Associated Chinese Chambers of Commerce and Industry of Sarawak (ACCCIS) fully supports the enforcement of the Movement Control Order by the government to contain the outbreak of COVID 19. During this unprecedented time , ACCCIS urges everyone to cooperate and fully comply with the directives and guidelines prescribed by the relevant government departments in respect of the Moment Control Order in order to curb the spread of COVID 19.
As the prevailing situation warrants such a need, the implementation of 14-day of the Movement Control Order has been extended for another 14 days till 14th April 2020. Life is precious, in such critical moment, we appreciate the difficulties on the part of our government to take extraordinary for the sake of public health and safety. Undoubtedly,the enforcement of the order will impact the business community and consequently, result in a series of problems arisen from the devastating effects of the outbreak of the virus as well as the implementation of the Movement Control Order. Most businesses are facing a variety of problems besides the shutdown in operation,including declining business volume, very tight cash flow in addition to all kinds of statutory contributions like Socso and EPF of the employees. At this critical time,ACCCIS hopes that the government would come out with more effective stimulus measures to help the businesses, as well as more pragmatic policies to rescue the vulnerable businesses, in particular, we would like to urge the government to provide a 50% subsidy on the salaries of the employees during the MCO period , provide preferential tax rates and even exemption for corporate and personal income taxes in fiscal year 2019, expedite the approval and release of the loans provided under the stimulus package etc. so as to enable businesses to withstand the disastrous effects of the turmoil.
ACCCIS is deeply concerned about the impacts and losses of the businesses during this Movement Control Order, and has empathy with all the industries that were hit hard by COVID – 19. We will continue to work closely with both the federal and state government to ensure that the impact of the outbreak on the economy and businesses of the state could be minimized and all employees would be able to keep their jobs in the hope of an early economic recovery.
As the supreme organization representing the interest of the Chinese business community in Sarawak, ACCCIS will continue to channel the views and problems facing the business community to the government. Of late, we have submitted a few proposals addressing the problems and concerns of our local business community to The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) which would then table the same for deliberation in their dialogue with the Minister of Finance later with the hope that the government would assist the business community with more pragmatic and effective measures in the upcoming stimulus economic package so to help businesses to overcome the problems and the formidable challenges arisen from the outbreak of the COVID-19.