Posted by ks55 > 2020-04-23 12:30 | Report Abuse

Haha....
Still think all loans given out stand good chance to recover?
Many property developers and construction companies will fold up.
Many transport companies and airline going to holland.
Many SMEs will close shops.
Many people will lose their job.
Many people will not be able to pay car loan and housing loan.
Many people will default credit card payment.

Govt's revenue from import and export duties diminishing.
Govt's GST and excise duties evaporate in thin air.
Govt's income tax for company and individual will disappear.
Govt's dividend from GLCs and Petronas may not forthcoming.
Govt's out of budget expenditure (by whatever name) already shot to the moon.


What can PM do?
1. Ask BNM print more money (effectively make Ringgit shrinks faster)
2. Ask Treasury issue more Bond with higher coupon rate (Borrow more and pay more interest)
3. Ask Finance Minister to kowtow to China (Get more RMB), as no other western country is in position to lend money to Malaysia.
4. Raise GST from 6% to 15%.
5. Downsize Cabinet.
6. Downsize Civil service from 1.6m to 1.2m
7. Freeze or reduce civil servants (and MP, Ministers) salary by 10%.
8. Temporary reduce govt pension by 10%.
9. Cap CEOs of GLC at 600k a year (i.e. 50k a month) with no other fringe benefits.

When Covid-19 pandemic hit, all must suffer, not just the underprivileged, but the elite too.
PM must take prudent and appropriate action to minimize damage caused to Malaysian economy and suffering to its people.