Shielding Malaysian SMEs: Lim Guan Eng Calls for Tax and Power Hike Freeze Amid US Trade War
KUALA LUMPUR, May 5 — In a bid to cushion the impact of the US trade war on Malaysian industries, Finance Minister Lim Guan Eng has urged the government to put on hold all proposals that could exert additional financial pressure on local businesses. This move is aimed at protecting Malaysian Small and Medium-sized Enterprises (SMEs) from the economic fallout, which has been affecting global trade and commerce. By freezing tax and power hikes, the government can help mitigate the risks associated with the trade war, such as increased costs and reduced competitiveness. This proactive approach can also help stimulate economic growth, boost business confidence, and promote a more favorable business environment for Malaysian SMEs to thrive. With the rising concerns over trade tensions and economic uncertainty, it is crucial for the government to take swift and decisive action to support local industries and ensure their survival and success in the global market, particularly in areas such as international trade, export business, and import export industry.