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PETALING JAYA: It is preferable to adjust standard operating procedures (SOP) to a motion control order (MCO) to address the latest increase in Covid-19 infection.
This is the consensus reached between large and small companies, economists and psychologists.
Many fear that a total shutdown across the country will end more business and thus people’s livelihoods.
The latest spike in the number of new daily cases has effectively dashed hopes that the pandemic will be under control by the end of this year or the first months of 2021.
While Chief Minister (Defense) Datuk Seri Ismail Sabri Yaakob’s announcement that there are no plans for a full shutdown yet has raised concern, many stakeholders expect the government to allow economic activities to continue, albeit at a moderate pace. .
Malaysian Employers Federation (MEF) executive director Datuk Shamsuddin Bardan expressed fears that another shutdown could break the proverbial camel and wipe out many more businesses and jobs.
He told the Sun yesterday that economic data for the third quarter already showed promise of recovery.
“The unemployment rate has dropped from 4.8% in June to 4.7% in July. However, this may be affected by the alarmingly high level of new Covid-19 cases. “
He said the situation would be better handled with lockdowns only in localities that report large numbers of cases rather than a general MCO for the entire country.
He said banks should be more lenient on loans to small and medium-sized businesses and that the moratorium on loan repayments should continue.
He said there must be policies and procedures to allow business and daily activities to continue smoothly.
Malaysian Street Vendors and Small Merchants Association President Datuk Seri Rosli Sulaiman said it has been difficult to survive the first round of MCOs.
“The small merchant business has decreased by at least 30%, thanks to the impact of the first MCO. A second round will make the situation worse, ”he told the Sun.
Economist Datuk Dr. Rajah Rasiah said that the best option for now is to adjust standard operating procedures.
“Now there are fears that the economy will go into recession. I don’t see how the gross domestic product can start to grow yet, ”he said.
On the other hand, he said that an MCO might not be necessary yet, but a more strict observance of the requirements, such as social distancing, is essential.
Meanwhile, to help businesses, the government can make banks lower interest rates to stimulate the growth of new industries that have the potential to thrive in the new normal.
Rajah, who is Professor of Economics at the Asia-Europe Institute at Universiti Malaya, said that companies should also take the initiative to transform in accordance with Industrial Revolution 4.0, among other things by adopting new technologies.
“The new technology will help limit human contact and allow companies to cultivate stronger cooperation, thus helping them fight the pandemic collectively rather than individually.
He also emphasized that there is a need to expand the production of essential goods and increase support for agriculture.
Psychologist Dr. Fauziah Mohd Saad of the Universiti Pendidikan Sultan Idris noted that when there is economic instability, stress and anxiety levels increase.
Humans are social beings by default. Another lockdown in the midst of an unstable economy will have a huge impact on people’s mental health, ”he said.
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