GUA MUSANG: Former finance minister Tengku Razaleigh Hamzah has suggested monthly targeted assistance to help cushion the blow for those affected by the rising cost of living.
He said the monthly assistance could help the need and stabilise the country's economy.
He said currently, people are burdened by the increase in prices of goods and taxes, and it is high time for the government to lend a hand
"During the Covid-19 pandemic, I once suggested to the then Prime Minister Tan Sri Muhyiddin Yassin to assist the affected people.
"I suggested that every citizen with identification should be given RM1,500 per month, consistently until the economic situation improves.
"This means that if there are five family members, they will receive RM10,500 in total. This amount can sustain their livelihoods.
"Paying RM400 won't be sufficient. However, with RM10,500 per family, they can generate economic activity and create business opportunities. I believe that's more deserving," he said.
He said besides providing cash assistance, the government needs to make efforts to restore the country's economy.
"The government needs to look at ways to improve the foreign exchange rate which is currently a problem. One main factor is our production capacity has declined.
"The second is the foreign exchange rate has favoured the US dollar. If that cannot be corrected, the country's economy will not recover.
"Moreover, the number of foreign workers brought into the country is more than needed. They send RM80 billion out of the country and do not benefit us at all," he said.
