The RM40 billion Pemerkasa Plus aid package is timely but falls short of the business sector’s expectations, Federation of Malaysian Manufacturers (FMM) president Soh Thian Lai said.

In a statement today, he said the industry, in particular, welcomed the extension of the Wage Subsidy Programme, three-month automatic loan moratorium or 50 percent reduction of loan instalment repayment as well as additional RM2 billion allocated for the Targeted Relief and Recovery Facilities by Bank Negara Malaysia for small and medium enterprises (SMEs).

He said the industry also lauded the initiative to...