Economic recovery and relief is set to be delayed, with little contained within 12MP to assist in this area. Many prominent Malaysians have called for a new economic paradigm and scrapping of the NEP. Recommendation 5: Safety net assistanceFor those not employed, the solution is putting income into the hands of those who need income assistance and protection. This requires a total overhaul of Malaysian social and economic safety net programmes, which have become so important since the beginning of the Covid-19 crisis. A safety net scheme could be partnered by a universal income-tested pension scheme built upon the Employees Provident Fund (EPF) system.

Source: The Edge Markets November 06, 2021 15:34 UTC