SEDC: Economic Stimulus Package 2020 timely for state in view of Covid-19 outbreak

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Aziz said SEDC was also affected by Covid-19 because its hotel bookings and conferences were cancelled and added that revenue generated by the hotel industry is expected to be lower this quarter due to the decrease in tourist arrivals. File Photo

KUCHING: The Sarawak Economic Development Corporation (SEDC) welcomes the RM20 billion Economic Stimulus Package 2020 announced by the interim prime minister Tun Dr Mahathir Mohamad on Thursday as it will help with the recovery of the state economy.

SEDC chairman Tan Sri Datuk Amar Abdul Aziz Husain said it was very timely in view of the Covid-19 outbreak.

“During the SARS outbreak, we also had this stimulus provided by the government which actually helped to increase our GDP, which had gone down to over 4 per cent and subsequently bounced back to 6 per cent.

“The stimulus packages is definitely required in a situation like this and I think it is very welcomed, especially by those industries like the tourism industry that have been affected by the Covid-19 outbreak,” he told reporters at the press conference for the Hornbill eSports Championship at a local hotel yesterday.

Aziz said SEDC was also affected by Covid-19 because its hotel bookings and conferences were cancelled and added that revenue generated by the hotel industry is expected to be lower this quarter due to the decrease in tourist arrivals.

“Hopefully, the economic stimulus package will help to get us through during this very dry time when the economy is down. We hope that this Covid-19 epidemic will be gone by April when it is summer as the weather gets warmer,” added Aziz.

“We hope that by then, the economy will be able to recover sufficiently.

“We also welcome the other packages because it will help the people especially smaller businesses like SMEs and people on the front line fighting against the virus,” he said.