#TTFCovid19: We are faced with terrible catastrophe – Mahathir

Dr Mahathir noted how travel restrictions will have a great impact on Malaysia’s tourism industry, which is a key income generator for both the government and for Malaysians. Source (pic): TTF

#تتفچوۏيد19: كيت برهادڤن مالاڤتاك دسيت – محضير

#TTFCovid19: Tun Dr Mahathir Mohamad today gave a grim assessment of Malaysia’s situation amid the global Covid-19 pandemic, calling it a “terrible catastrophe.” 

He also raised the possibility of the government needing to financially assist Malaysians who are losing their livelihood as a result of the country’s two-week shutdown.

“For the small enterprises, the loss would be terrible. These people earn today for today. Even if they are able to do some business it would not be sufficient to pay for their food. The government may have to give them financial support.

“What is happening in Malaysia is happening to the rest of the world also. Industries may have to stop or at least reduce production. Exports and imports would be affected. Economies would go into recession worldwide. Even the richest countries would suffer,” he said.


KUALA LUMPUR: Tun Dr Mahathir Mohamad today gave a grim assessment of Malaysia’s situation amid the global Covid-19 pandemic, calling it a “terrible catastrophe.”

He also raised the possibility of the government needing to financially assist Malaysians who are losing their livelihood as a result of the country’s two-week shutdown.




Dr Mahathir noted how travel restrictions will have a great impact on Malaysia’s tourism industry, which is a key income generator for both the government and for Malaysians.

“The airlines would suffer. The tourist industry would suffer. The hotels’ ground transport, restaurants would suffer. Employees would suffer as they may be laid off. Their employers will not be earning enough money to pay them.

“For Malaysia the tourist industry is the second biggest foreign exchange earner, after Petronas. The government would lose a lot of revenue.

“People working in the tourist industry would lose jobs and income. This would be terrible because these people need food and drink,” the former prime minister wrote in a Facebook post today.

On top of that, Dr Mahathir noted that government revenue would also be hurt by low global oil prices, as petroleum is a key contributor to the country’s revenue.

Dr Mahathir said that the government’s economic stimulus package to help Malaysia cope with the effects of the Covid-19 outbreak also involves an increase in government spending and a decrease in taxes, noting that it would be challenging for the government to meet these extra expenditures with the decrease in government revenue.

“In the meantime, even a partial lockdown would reduce business and profits. Again, government revenue would be affected,” he said, having described the two-week movement control order that is imposed in Malaysia now as a “partial lockdown.”

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“For the small enterprises, the loss would be terrible. These people earn today for today. Even if they are able to do some business it would not be sufficient to pay for their food. The government may have to give them financial support.

“What is happening in Malaysia is happening to the rest of the world also. Industries may have to stop or at least reduce production. Exports and imports would be affected. Economies would go into recession worldwide. Even the richest countries would suffer,” he added.

“Truly we all are faced with a terrible catastrophe,” he concluded.

Source:



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