Interim Prime Minister Dr Mahathir Mohamad unveils a RM20 billion stimulus package to help industries affected by the Covid-19 outbreak.
In a press conference at the Prime Minister’s Office, he said it would be implemented for six months from March. To stimulate the tourism industry, taxes for hotels will be reduced and the levy imposed for training will be removed temporarily. The employers’ contribution to the Employees Provident Fund will also be reduced from 11% to 7%, allowing employers to have more money in hand.
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