06-16-2021, 11:29 AM
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PETALING JAYA: An economist has warned Putrajaya of a wrecked economy and political chaos unless it improves the national recovery plan that Prime Minister Muhyiddin Yassin unveiled yesterday.
“If we wait until October to open all sectors, we might as well say goodbye to our economy,” said Ahamed Kameel Mydin Meera, an adjunct professor with International Islamic University Malaysia.
Speaking to FMT, he said there would be an increase in the number of businesses going bust and the economy would “be wrecked” and lives ruined. “I think political chaos might ensue,” he said.
According to the plan Muhyiddin announced, there are four phases of recovery, the first being the current lockdown, which is set to last until June 28.
The second phase will start as soon as Covid-19 cases dip below 4,000 cases with 10% of the population vaccinated. Several businesses, including retail of electronics and computers, will be allowed.
The third phase, beginning at the end of August, will see more economic sectors allowed. The fourth phase, targeted from October onwards, will see all other sectors opened. By this time, border crossings and domestic tourism will be allowed.
Muhyiddin also said Malaysia was likely to achieve herd immunity by the end of the year.
Kameel and another economist, Center for Market Education CEO Carmelo Ferlito, complained of a lack of details in the recovery plan, not only with regard to improving the economy, but also to efforts to reduce Covid infections.
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