Malaysia unveils $3.7 billion COVID-19 relief package
by ChemOrbis Editorial Team - content@chemorbis.com
According to several media outlets, Malaysia’s Prime Minister Muhyiddin Yassin announced an aid package worth RM15 billion ($3.7 billion) on Monday to mitigate the impacts of a fresh surge in COVID-19 cases. This came a week after the nation declared state of emergency on January 12 due to increasing COVID-19 cases.
The package mainly focuses on protecting the welfare of the public and businesses during the pandemic as well as containing the spread of the second-wave around the nation.
Accordingly, the country will invest in the national vaccination program and strengthen the healthcare system by hiring more workers. It also plans to continue the reduction of loan instalments and extend the tax relief period for some goods in a bid to support its citizens, media sources added.
For businesses, a special 10% discount in electricity bills will be offered for six main sectors starting from January to March, Muhyiddin Yassin reportedly announced.
The package mainly focuses on protecting the welfare of the public and businesses during the pandemic as well as containing the spread of the second-wave around the nation.
Accordingly, the country will invest in the national vaccination program and strengthen the healthcare system by hiring more workers. It also plans to continue the reduction of loan instalments and extend the tax relief period for some goods in a bid to support its citizens, media sources added.
For businesses, a special 10% discount in electricity bills will be offered for six main sectors starting from January to March, Muhyiddin Yassin reportedly announced.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PP markets in China, Vietnam hit 3-year lows, readying to test new lows
- African PE, PP markets extend slide into May
- Asian PS, ABS markets at 2½-3-year lows amid Chinese oversupply
- India’s Q1 PVC imports hit record-high; did buyers rush to stock up before expected restrictions?
- LDPE prices move below LLDPE, HDPE on global lethargy
- Slide deepens in Middle Eastern PP, PE markets through May
- Oil prices down for fourth straight week, delicate balance ahead
- European ABS under pressure from aggressive imports, PS holds firm
- Türkiye witnesses plentiful PE offers amid globally weak demand
- India PP, PE markets’ slump extends into third month ahead of monsoon
