This article first appeared in The Edge Financial Daily on March 17, 2020 - March 23, 2020

KUALA LUMPUR: Prime Minister Tan Sri Muhyiddin Yassin yesterday announced the members of the Economic Action Council (EAC) following the council’s inaugural meeting, comprising of government officials and prominent private sector figures.

The government officers in the council comprise the prime minister as chairman, Finance Minister Tengku Datuk Seri Zafrul Aziz, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed, and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, who is one of the four senior ministers. He has also been appointed the deputy chair of the EAC.

Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus is also a member of the council, as well as EAC executive director Tan Sri Dr Noor Azlan Ghazali.

From the private sector, members of the council consist of The Edge Media Group chairman Datuk Tong Kooi Ong, Mercy Malaysia founder Tan Sri Dr Jemilah Mahmood, Celcom Axiata Bhd group chairman Tan Sri Jamaludin Ibrahim, Westports Holdings Bhd chairman Tan Sri G Gnanalingam and Sunway Group chairman Tan Sri Dr Jeffrey Cheah.

Muhyiddin said the EAC is tasked with ensuring economic sustainability, to find ways to stimulate the economy, to come up with short- and medium-term plans to ensure economic growth as well as to ensure that the EAC’s decisions are executed efficiently.

Following its first meeting yesterday, the EAC has agreed to take several additional actions to reinforce the previously announced Economic Stimulus Package 2020, which include financial assistance as well as electricity charge discounts.