KUALA LUMPUR: Malaysia has incurred an estimated RM63 billion losses since the Movement Control Order (MCO) came into force on March 18.
Prime Minister Tan Sri Muhyiddin Yassin said the country will incur another RM35 billion losses if the MCO is extended for another month, bringing the total losses throughout the enforcement period to an estimated RM98 billion.
In his special televised address in conjunction with Labour Day today, Muhyiddin said the country was losing an estimated RM2.4 billion daily throughout the enforcement of the MCO, which is currently in its fourth phase.
"After almost two months into the MCO, I am aware the majority want to return to work. Traders want to reopen their businesses and the same applies to industrial operators who want to resume operations.
"This is important since it is your source of income. If the MCO is extended, it will surely put a dent on your income resulting in bad implications to one's financial position.
"The same could be said for the nation. When economic activities are temporarily ceased, it will affect the income of the nation.
"Tax cannot be collected, industries will not be able to expand, economic growth is halted and this would eventually lead to unemployment," said Muhyiddin.
He said however many were still concerned of the consequences if the MCO was lifted.
"What will happen to our efforts to fight Covid-19 since the virus is still out there. Although the daily new cases continue to drop, the risk of people being infected is still there.
"We have witnessed in several other countries where the number of confirmed Covid-19 cases began increasing after they lifted their 'lockdown' measures. We must avoid the same from happening in our country," he said.
He said it was imperative for the government to implement measures that could strike a balance between containing the outbreak and revitalising the economy.