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Malaysia’s “Dynamic” Recovery Plan Tackles Covid-19 Crisis Holistically: Tengku Zafrul

The National Recovery Plan (NRP) is a dynamic, flexible and agile roadmap that tackles the pandemic holistically, rather than anchoring on a single metric as a deciding factor for relaxing restrictions.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the NRP was a comprehensive approach to restoring consumer confidence while allowing the economy to open safely.

“At its heart, the NRP will catapult the nation on the path to recovery,” he said in his keynote address at the National Recovery Summit – Winning the War against Covid – The Road to Recover – here today.

Tengku Zafrul said effective execution was made key and adapted under the NRP, based on current local scenarios.

He added that updates were based on current needs supported by the most recent data, especially those based on science.

“The NRP is inclusive, based on a whole-of-nation approach. National Employment Council (NEC), a coordinating body under the NRP, has representatives comprising the state governments of Sabah and Sarawak as well as industry experts and non-governmental organisations (NGOs) to share their expertise on various aspects of the NRP.”

Tengku Zafrul said the NRP plan would provide a data-driven, dynamic and inclusive way to exit the pandemic safely and systematically, while equally critical to building back the economy better.

“A post-Covid economy will be one of dramatic shifts in trade and services as well as harnessing the power of information and technology.

“The pandemic has deepened inequality. Work norms we were familiar with have changed forever. Sustainability and climate change have grown more pressing. The world has seen a rapid adoption of digitalisation and automation,” he said.

Meanwhile, Tengku Zafrul said the 2022 Budget was conceptualised as a recovery budget to complement the government’s wider and longer-term reform efforts under the 12th Malaysia Plan.

“The economic outlook remains intertwined with that of the virus, and the path to economic recovery hinges on first getting it under control.

“Recent indicators suggest near-term challenges stemming from elevated infections and persistent public health concerns,” he said.

Tengku Zafrul said new challenges had also emerged in the form of more dangerous variants and growing community transmissions, making it difficult path to recovery.

In the immediate term, he said the NRP plan focused on the effective management of the pandemic by breaking chains of transmission, reducing morbidity and mortality while maintaining sufficient support for non-Covid-19 needs.

“The government will progressively update the NRP to prepare Malaysia for the next normal of living with Covid-19 as an endemic disease.

“Without a doubt, Covid-19 has shown that public healthcare is an important foundation to enable other sectors to operate.

“As such, we will not compromise on what is required to place our public healthcare on a stronger footing, through the NRP, and later through 2022 Budget,” he said.

Beyond the pandemic, Tengku Zafrul said the government was studying efforts to strengthen the healthcare system’s resiliency and preparedness for future pandemics, while meeting the longer-term challenges of an ageing population and non-communicable diseases.

“Achieving a target level of population immunity is a key enabler on Malaysia’s path to recovery,” he said.

As at September 7, more than 20 million people or 89 per cent of Malaysia’s adult population had received their first shot, including 16 million or 70 per cent who were now fully vaccinated.

“We are well on our way to have 80 per cent of the adult population fully vaccinated by end of September, and 100 per cent by end of October.

“Thereafter, we will start living with Covid-19 as an endemic disease,”he said.

Tengku Zafrul said the economy was an important component of Malaysia’s recovery agenda in the NRP and 2022 Budget.

He said these key policy measures would aid hardest-hit sectors and most affected households through targeted measures and minimise long-term economic scarring.

The government has introduced eight assistance packages in addition to 2021 Budget.

A total of over RM260 billion has been disbursed as at end-July, benefiting over 20 million rakyat and 2.4 million businesses, with about RM300 billion left to be spent this year.

“This includes a further RM10 billion, which will be disbursed of not only direct aid for B40s and M40s but also targeted assistance for gig workers, the hardcore poor, the unemployed, as well as increased support for mental health issues,” he said.

Tengku Zafrul said a key pillar of economic recovery is job creation and the NEC would continue to increase efforts to promote quality job opportunities, skills enhancement and trainings.

As at end-August, more than 350,000 jobs were created, backed by initiatives such as MySTEP, PenjanaKerjaya 2.0, the Corridor Reskilling and Upskilling and the Penjana Reskilling and Upskilling programmes. – NST ONLINE

BacalahMalaysia Team

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