business

RM400mil contribution from glove companies to battle Covid-19

KUALA LUMPUR: Four major glove companies namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corporation Bhd and Kossan Rubber Industries Bhd will contribute RM400 million to help the government in its fight against Covid-19.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the contribution include cost coverage of Covid-19 vaccine as well as expenses for health equipment.

Tengku Zafrul said there were Members of Parliament who had called for a higher expenditure ceiling for the Covid-19 Fund.

"Taking into account the current epidemic wave and requirements needed until 2022, the government proposes to submit amendments to the Schedule of the Act to this esteemed House to raise the ceiling of the Covid-19 Fund by RM20 billion to RM65 billion ringgit," he said when tabling the 2021 Budget at Parliament today.

The government's temporary measures for the financing (Coronavirus Disease 2019) Act allows its statutory debt level to be temporarily raised up to 60 per cent of gross domestic product, from 55 per cent.

Under this act, Parliament has approved an allocation ceiling of RM45 billion for the Covid-19 Fund.

The main purpose is to fund the Kita Prihatin package, additional assistance for the people's well-being, needs of frontliners' and expected procurement of vaccine.

"I hope the members of this august house will collectively approve this proposal," he added.

Meanwhile, Hartalega said the budget was reflective of the government's commitment to ensuring the welfare of the rakyat and economic stability in the wake of the Covid-19 pandemic.

"Supporting this, and as a leading glove manufacturer in the global healthcare value chain, we are committed to continue playing our part in Malaysia's fight against Covid-19," said a Hartalega spokesperson.

The glovemaker said it would step up its efforts to contribute RM90 million to the government.

"This will go towards providing financial assistance to bear the cost for the Covid-19 vaccine as well as for purchasing medical equipment.

"Also, this is a corporate social responsibility initiative by the company to make a positive difference in the lives of Malaysians and support the nation's healthcare sector," said Hartalega.

Most Popular
Related Article
Says Stories