Malaysia’s Prime Minister Muhyiddin Yassin announced the PEMERKASA assistance package totalling RM20billion on March 17, 2021 at 5:30pm.

On March 17, Malaysian Prime Minister Muhyiddin Yassin announced the PEMERKASA stimulus package worth RM20 billion with a total of  20 initiatives. These initiatives focus area are:

  • Combat the Covid-19
  • Propelling economic recovery
  • Strengthen national competitiveness
  • Ensure a regional and community inclusion agenda
  • Economic transformation

Our country is currently in the fifth stage of the 6R Strategy (Resolve, Resilience, Restart, Recovery, Revitalise, and Reform) of the Comprehensive Economic Recovery Plan, namely, ‘Revitalise’ or empower the economy.

Here are specific areas addressed by PEMERKASA.

 

Combating Covid-19

  • Allocation for immunisation increased from RM3 billion to RM5 billion, to be completed by December 2021
  • Special assistance of RM200 to public personnel who are involved in the immunisation programme

 

Tourism Industry

  • RM3,000 one-off aid to registered travel agencies
  • RM600 one-off aid to homestay operators
  • Waiver of entertainment duty for cinemas in Federal Territories
  • Extension of waiver of tourism and service tax and levy
  • More tax deduction to cover package tours
  • 10% discount on electricity bills to be extended for another 3 months until June

 

B40 Group and The Disabled

  • RM100 million to help those in the B40 group to obtain daily necessities and food items
  • RM300 subsidy for family with children to buy smart devices for online learning under Jaringan Prihatin Programme
  • Additional one-off aid of RM500
  • Additional RM500 cash aid for recipients of Bantuan Prihatin Rakyat earning below RM1,000
  • Special RM25 million micro-credit schemes for the disabled
  • Free registration with Companies Commission of Malaysia for the disabled
  • Allowance for disabled workers from RM1,200 to RM1,500
  • As for the recipients of mySalam National Health Protection Scheme, those in the B40 group who have to undergo home quarantine due to Covid-19 will receive income replacement of RM50 per day for up to 14 days, with confirmation by a medical officer

For Women

  • RM30 million in fund to encourage women entrepreneurship and to assist them in migrating their marketing platform online
  • Increased micro-credit schemes for women
  • RM10 million in new grant to support women entrepreneurs to get Socso coverage

 

For Workers

  • RM700 million to extend the wage subsidy programme 3.0 for another 3 months for retails, wholesale and tourism businesses
  • Click here for Program Subsidi Upah (psu.perkeso.gov.my)
  • Apprenticeship subsidy of RM800 a month extended from 3 months to 6 months
  • New hiring incentive of RM200 per worker to cover temporary or gig work

 

For Small Businesses

  •  Another round of Special Prihatin Grant or GKP 3.0 for SMEs at RM1,000 each, registration starts at April 1.
  • Small-scale project allocation increased from RM2.5 billion to RM5 billion in 2021 for G1 and G4 contractors to conduct public facilities and infrastructure projects damaged by floods, road repairs, social amenities, repair of strata housing including the replacement of elevators at public housing, and constructing stalls in municipalities.
  • With BSN, a fund of RM300mil will be made available with a financing limit of up to RM50,000 and the interest rate reduced from 3.5% to 3%
  • Tekun Nasional will be providing an additional fund of RM60mil, especially for the Informal Financing Scheme with a financing limit of up to RM5,000 for small businesses operating from homes, night markets and wet markets.
  • Through Mara, the Prihatin Micro Business Financing Scheme will be implemented, focusing on assisting 1,000 bumiputra micro SMEs in sustaining their business.
  • SME Corp will provide RM50million to assist local SMEs to obtain financing of up to RM250,000 at an interest rate as low as 3%

“At this stage, the economic recovery strategy is focused on efforts to boost and revive economic activity, or jump start the economy. To date, the government has announced six assistance packages, namely PRIHATIN worth RM250 billion, PRIHATIN SMEs (RM10 billion), PENJANA (RM35 billion), Kita PRIHATIN (RM10 billion), PERMAI  (RM15  billion).  With  the inclusion of PEMERKASA (RM20 billion), the total value of the aid packages amounted to RM340 billion,” – Malaysia’s Prime Minister Tan Sri Muhyiddin Yassin. 

 

Are you part of the group that will be receiving the assistance? Share with us how this will affect you.

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