KUALA LUMPUR, 28 June — During a live national tv address on Monday (28 June),, Malaysian Prime Minister Muhyiddin Yassin announced a new economic aid package worth RM150 billion, with RM10 billion worth of direct fiscal injection.
According to the Prime Minister, the new aid package titled ‘PEMULIH’ will focus on three main aspects; taking care of the citizens, supporting businesses, and increasing the vaccination rate in the country.
Starting in September this year, the Malaysian government will distribute between RM100 and RM1,400 through phase three of the BPR economic aid programme.
While families from under the B40 category will receive payments of RM500 in August and RM300 in December, at the same time, single individuals from the under B40 group will receive one payment of RM200 in August.
As for the families in the under M40 category, they will receive a payment of RM250 in August, and single individuals in the same category will receive an RM100 payment in August.
People who lost their jobs and became unemployed will receive a payment of RM500, based on the Employees Provident Fund (EPF) and Social Security Organization (SOCSO) data, and the number of beneficiaries is expected to be around 1 million citizens.
The Prime Minister also announced financial support for fresh graduates and workers in informal sectors who are not registered with SOCSO. They can register with the ‘My Future Jobs’ platform to receive a one-time allowance of RM300.
All members of parliament in Malaysia will receive RM300,000 to provide food aid to their constituencies.
“Regardless of whether they’re government or opposition, all MPs have a responsibility to help their constituencies in these difficult times.” Muhyiddin said.
Despite increasing commodity prices in the global market, the government will maintain the prices of petrol RON95, diesel, and LPG, which will involve subsidies of up to RM6 billion. The government is also controlling oil prices.
The Malaysian government will offer electricity bill discounts between 5 per cent and 40 per cent, based on individual electric usage with a maximum limit of 900 Kilowatts per hour.
Affected economic sectors like shopping malls, hotels, tourism, and theme parks will receive an electricity bill discount of 10 per cent from October to December 2021.
The government will also assist employers by providing RM600 in wage subsidies for every 500 employees under each employer. This will last for four months.
ٍSource: Bernama/The Star/The Vibes