Business Survival Group president Datuk Abdul Malik Abdullah speaks to the media during a press conference in Bangsar, Kuala Lumpur March 8, 2021. — Picture by Shafwan ZaidonKUALA LUMPUR, March 8 — Banks should allocate 30 per cent of their previous two years’ profits to create a RM21 billion government-backed recovery fund, said the Business Survival Group coalition.
“If they set aside just 30 per cent of these two years’ profit — that’s RM21 billion. That is 16 times of what the banking system has given out in terms of SRF loans and only over one-third of what the government has done ,” Abdul Malik said in the press conference in Bangsar Shopping Centre today.
The coalition also urged the government to form a new entity incorporating private sector input to coordinate all pandemic-related relief, policy-making and regulation. Abdul Malik said all ministries and agencies related to trade and commerce should collaborate on a “single window for economic stimulus”, with the Ministry of International Trade and Industry as the coordinator.Related Articles