Malaysian Prime Minister Tan Sri Muhyiddin Yassin has just announced a new economic recovery package “PEMULIH” yesterday. This stimulus package, worth RM150 billion aims to aid citizens financially through the Covid-19 pandemic. Furthermore, RM10 billion will be used to help low and middle income households through these difficult times.
Covid-19 Special Aid for Households and Singles
Hardcore poor households will receive RM1,300 from the government, given in RM500 intervals for both August and November followed by a balance of RM300 in December. Singles of this category will receive RM500 (RM200 in August, RM300 in November)
B40 income households (earning less than RM 2,500 – RM 4,849 per household) will receive RM800 (RM500 in August and RM300 in November), singles from this category will receive RM200 in August.
M40 income households (earning more than RM4,850 – RM10,959) will receive a single payment of RM250 in August. Singles of this category will receive RM100.
Disposable Income Aids
Citizens who experience a loss in income based on EPF and SOCSO 2021 will be eligible to receive RM500
EPF Withdrawals of RM1,000 per month for 5 months will be allowed under EPF i-Citra.
6 months Bank Loan Moratorium will be given to all citizens, no approval needed.
Postponement of 6 months for JPA student loans and federal scholarship compensation claims. Furthermore, 3 months targeted PTPTN loan moratorium will be given
Electricity bill discounts from 5% to 40% will be given according to usage for 3 months
RM1,500 (RM500 for 3 months) will be given to disabled persons
Insurance or takaful policy holders may apply for deferment of payment until end of the year
1GB of free data to be extended until the end of the year
Business Aids
Electricity bill discounts for affected sectors will be extended for a further 3 months (October- December) at 10%
Procurement procedures on building material costs for projects will be eased by the government
RM20 million limit increase for Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) government guarantee scheme
Micro SMEs will receive RM1,000 split into 2 payments of RM500 in September and November
Affected SMEs will also be eligible with bank approval, applications open on the 7th July 2021.
Government will also provide salary subsidies of RM600 per worker for 4 months.
An additional RM100 million allocation will be given to businesses for the purpose of digitalisation. Grants of up to RM5,000 for SMEs and Micro SMEs will be given to subscribe or purchase digital systems.
Nursery operators (only selected), Sports Facility operators will be given RM3,000 as aid. Travel agencies will also receive RM3,000 at the third phase of NRP.
Allocation of RM100 million will be used to aid creative sectors
Monthly income tax installments will be postponed for companies.
Tourism and service taxes will also be waived for hotel operators until December 2021.
RM125 million to be allocated to train and place workers under the Janapreneur programme
Food Basket Assistance and Programs
RM300,000 will be allocated to Ministers of Parliament (MPs) in order to give food assistance to the affected public. A further RM10 million will be allocated to provide food assistance to indigeneous people. Price control will be implemented on crude palm oil on 1-5kg bottled cooking oil. Moreover, the retail price of Ron95 petrol, diesel and LPG will be continue to be maintained and subsidised. RM15 million will also be allocated to give psychosocial support, such as Talian Kasih and to NGO’s to further support the mental health of the nation. RM18 million will also be allocated for banks to provide 30 mobile banks nationwide.
Government Nationalisation Immunity Program Aid
RM400 million to be allocated to increase vaccination supply.RM150 million will be allocated for the PIKAS Programme. A further RM200 million will be allocated to open and upgrade vaccination centres such as drive through and mobile centres to increase outreach for home-to-home inoculation programmes.
Volunteer frontliners who are on duty for more than 12 hours will receive RM100 per day instead of RM50, starting June 2021.
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