As the 14th general election draws near, many are expecting a near-term boost in spending due to a slew of monetary goodies announced by the caretaker government.
According to business daily The Edge, these perk could see a pickup in activities during the polling season, effectively boosting a sluggish retail sector.
“Over the past two weeks and up until May 9, people will be spending more,” Tan Hai Hsin, managing director of Retail Group Malaysia, told The Edge.
For example, caretaker prime minister Datuk Seri Najib Razak on April 15 announced a free RM800 fuel card for some 67,000 taxi drivers.
Tan Sri William Cheng, president of the Malaysia Retailers Association (MRA) and chairman of Parkson Holdings Bhd, told The Edge that the increase in political and social activities throughout the election season will also lift consumer spending.