Limited business impact from aid package, says Sarawak Chinese body chief
KUCHING (July 23): The 'Appreciation for the People' financial package is expected to have limited direct impact on the business community, said Sarawak Federation of Chinese Associations (SFCA) president Dato Richard Wee.
Commenting on Prime Minister Datuk Seri Anwar Ibrahim's recent announcement, Wee noted that while the initiatives primarily cover the general public, their effect on the business community remains relatively modest.
'From initial understanding of the announcement, the major areas covered are aimed at the rakyat. For the business community, the impact is somewhat minimal,' he told The Borneo Post.
However, he said business owners may indirectly benefit from postponed toll fare hikes and electricity savings, while supermarkets and shops may see a boost in sales due to increased spending on sundry goods and groceries.
Wee added that the financial package will have more impact on Peninsular Malaysia than in Sarawak and Sabah, stressing that it is crucial for the federal government to ensure benefits are fairly distributed across all states.
Among the measures announced was the reduction of RON95 petrol to RM1.99 per litre under a newly targeted subsidy mechanism.
Currently priced at RM2.05, the new subsidy is expected to benefit around 18 million motorists nationwide.
Additionally, 85 per cent of domestic consumers reportedly saw a reduction of up to 14 per cent in their July electricity bills compared to the first half of the year.
The Prime Minister also announced a one-off RM100 cash aid for all Malaysian citizens aged 18 and above in conjunction with the Merdeka Day celebration.
The assistance, provided under the Sumbangan Asas Rahmah (Sara) programme, will be credited via MyKad and can be used to purchase essential goods between Aug 31 and Dec 31 at over 4,100 participating stores nationwide.
The initiative involves an allocation of RM2 billion and is expected to benefit 22 million Malaysians.
As for 'Jualan Rahmah Madani', the government will double its allocation from RM300 million to RM600 million this year.
'This additional allocation will increase the frequency of sales and expand the number of locations nationwide, covering all 600 state constituencies.
'It will also broaden the variety of goods offered to give the people more options,' said Anwar.
Additionally, Malaysians will enjoy an additional public holiday on Sept 15 in conjunction with Malaysia Day, allowing more time for rest and family. anwar ibrahim business impact financial aid Richard Wee
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