By Tan Sri Ramon Navaratnam

The cabinet deserves to be commended for sacrificing two months' salary to donate to COVID-19.

Indeed, our cabinet has sent a strong signal to all Malaysians that this is a time of crisis in our economy, public health, and the welfare of our people!

Hence, this is the time to rally as one nation and Malaysians first.

We need especially to help each other in the spirit of national unity and patriotism in order to overcome the severe challenges posed by COVID-19, the economic slowdown we are now facing and imminent recession that is highly likely!

The government has now encouragingly expanded its economic stimulus package, but as I have pointed out before, this antidote to the economic slowdown and the COVID-19 attack may not be enough.

Fight back!

So we have to monitor the evolving situation closely and be prepared to come out with new policy issues to fight back more effectively.

But our resources are limited by our large budget deficits and big debts. Sometimes, it's also scary to hear sine politicians and public leaders ask for more allocations as if our resources are limitless!

New proposals

This is therefore the time to revise our strategies with new proposals to consider as follows:

1. Malaysians should follow the cabinet's excellent example of salary cuts to donate to Tabung COVID-19.

2. Corporates should lead the way to donate to the Tabung by themselves and by their high-income employees.

3. The government's development expenditures should be reduced and phased out to meet the rapidly increasing operating expenditures that are essential to combat COVID-19. We also need to do more for our gallant frontliners, many of whom work round the clock without food!

4. Malaysians should cooperate much more by staying home. We have never had this experience even during wartime, but we must help each other by staying at home faithfully.

5. The reality is that we have to prepare ourselves for recession from this moment. Those who lose their jobs or can't find any for some time, have no alternative but to adjust accordingly.

Conclusion

We are facing unprecedented challenges and we have to rise to these serious health and economic attacks with courage, national unity and God's Grace!

As a united Malaysia, we Malaysians shall overcome as the consolation is that these onslaughts can't last for long! God bless us all!

(Tan Sri Ramon Navaratnam is the Chairman of ASLI Center for Public Policy Studies.)