Innovate your future . RM128 billion for the people’s welfare. I am aware that the daily income of the full-time e-hailing drivers is also affected with the implementation of MCO. The 50% discount will be given to electricity consumption below 200 kilowatts; 25% for electricity consumption between 201 – 300 kilowatts; and 15% for 301 – 600 kilowatts. Accordingly, the Government allows pre- retirement withdrawals from account B up to RM1,500 per member without any tax penalties between April and December 2020. If Makcik Kiah’s spouse volunteers as a RELA member, he will receive RM200 per month until the pandemic ends. Whether you are a fisherman in Kukup, Johor or small farmer in Jeli, Kelantan. Please listen carefully, I would like to calculate the benefit that Makcik Kiah’s family will derive. Nevertheless, they continue to battle against this great challenge. The first one was the RM20 billion stimulus package (Pakej Rangsangan Ekonomi 2020) announced on 27 February 2020 by the previous government, which has since been absorbed under the current government’s RM250 billion stimulus package (PRIHATIN) announced on 27 March 2020. The Government has also approved a 6-month lease exemption on all premises owned by the Federal Government such as school canteens, nurseries, cafeterias, convenience stores and others. RM100 billion to support businesses, including Small and Medium Enterprises (SMEs) RM20 billion has been announced in the earlier stimulus package Healthcare Aid. This site uses Akismet to reduce spam. Meanwhile, the 2% discount announced previously will be still applicable to all households. For this purpose, the Government has identified a number of small projects such as improving roads, upgrading dilapidated schools in Sabah and Sarawak, cleaning houses of worship and police stations as well as upgrading tourism facilities that will benefit contractors from G1 to G4 class with an allocation of RM2 billion. In addition, the Government has also agreed to extend the contract period by one month as a trade-off with the MCO period. Assalamualaikum Warahmatullahi Wabarakatuh and Salam Sejahtera, My beloved fellow Malaysians. Prime Minister Tan Sri Muhyiddin Yassin announced a RM250 billion People-Centric Economic Stimulus package (Prihatin) which will benefit all segments of the society. Only max o Companies 76 – 200 employees, subsidy RM800 per employee o Companies … Prime Minister's Office of Malaysia Official Website, YAB TAN SRI DATO’ HAJI MUHYIDDIN BIN HAJI MOHD YASSIN PERDANA MENTERI MALAYSIA PRIHATIN RAKYAT ECONOMIC STIMULUS PACKAGE (PRIHATIN). You will also receive a one-off cash assistance of RM200 per person which will be disbursed in May 2020. I am aware that there are some of you who invest in the Private Retirement Scheme (PRS). We are a nation at war with invisible forces. The first ESP package is stated to be valued at RM 250 billion. Furthermore, an additional sum of RM400 million will be invested to widen the network coverage and capacity, maintaining stable, high quality and availability of telecommunication services. The situation we are now facing is unprecedented in history. At the same time, the RM2 billion for small projects announced in the previous package will be implemented in April 2020. This programme is dedicated to workers earning less than RM4,000 and employers experiencing more than 50% decrease in their income since 1 January 2020. InsyaAllah. Author: savemalaysia | Publish date: Mon, 18 Jan 2021, 5:33 PM Among others include free internet to all customers with a value of RM600 million starting 1 April 2020 until the MCO ends. The first phase of the collaboration between Bank Islam Malaysia Berhad and the Federal Territory Islamic Religious Council will commence in May 2020. To assist B40 entrepreneurs and people who lose their jobs, a social financing programme will be introduced in collaboration with Islamic banking institutions, the state Islamic religious council and key implementing partners. The strategies and measures that will be implemented are based on current fiscal capability and availability of liquidity in the domestic financial … This includes the employees in the private sector, FELDA settlers, farmers, fishermen, small traders and those categorised in the M40 group and below. To assist SMEs, including micro-entrepreneurs, the Government and Bank Negara Malaysia will provide additional funds worth RM4.5 billion which covers 5 key initiatives: First: Increasing funds to the Special Relief Facility (SRF) for SMEs by RM3 billion bringing the total to RM5 billion. In this regard, the Government will allocate RM1 billion for Food Security Fund. The PRIHATIN Economic Stimulus Package (ESP) was unveiled by The Prime Minister on 27 March 2020. For this, the Federal Government will work with the state governments, particularly in Sabah and Sarawak, to ensure all assistances provided by the Government will reach you quickly. Learning is power! The welfare of all civil servants who remain loyal to the nation in carrying out their responsibilities are also not being neglected. Apart from that, the Government will continue to channel various assistance to farmers and fishermen, including agricultural inputs to increase domestic production. This discount will be valid for 6 months beginning with bills charged for the month of April 2020. Your email address will not be published. As for Public Housing, the Kuala Lumpur City Hall will provide similar exemption which will benefit more than 40,000 tenants. The strategies and measures that will be implemented are based on current fiscal capability and availability of liquidity in the domestic financial market. This is specifically catered to the Small and Medium-sized Enterprises (SMEs). In the previous announcement, the Government allocated RM500 million to provide a 15% discount on electricity bill in the tourism sector as well as 2% for commercial, industrial, agricultural and household sectors in Peninsular Malaysia beginning 1 April 2020. … This package is equivalent to 17% of Gross Domestic Product (GDP) compared to the 8% of GDP (or RM67 billion) package introduced during the 2008 Global Financial Crisis. I understand during this calamity that we are experiencing now, most of you are financially affected. Recognising their sacrifices, the Government will increase the special allowance from RM400 to RM600 per month effective 1 April 2020 until the outbreak ends. Learn how your comment data is processed. You can receive benefits from the Prihatin stimulus package today. The measure involves an allocation of RM64.4 million. Purpose: Supporting business by mitigating the impact of COVID-19: Ease cashflow of businesses; Assist affected individuals Combating COVID-19 with resilience. Currently, under mySalam hospitalised patients, including those infected with COVID- 19 can claim income replacement fee of RM50 per day for a maximum of 14 days. As such, the Government welcomes the efforts of banking institutions which are willing to restructure repayments of the corporate sector in line with their business performance. This facility will be available for application from 1 May to 31 December 2020 or until the fund is fully utilised. The Prihatin Stimulus Package. In this challenging time, you would definitely need cash regardless of the source of savings for daily expenses. In the meantime, the remaining cash transfer under the current Bantuan Sara Hidup (BSH) programme totalling RM3.2 billion will be paid out in July 2020. The PRIHATIN package will provide immediate assistance to lessen the burden of all, especially those who are affected during the COVID-19 pandemics. Through this programme, the Government will provide salary of RM600 per month to every employee for 3 months. Makcik Kiah’s family will receive Bantuan Prihatin Nasional of RM1,600; the remaining BSH of RM600; pensioners assistance of RM500; e-hailing cash assistance of RM500; and single individual cash assistance of RM800. Pejabat Perdana Menteri, Blok Utama, Bangunan Perdana Putra, Pusat Pentadbiran Kerajaan Persekutuan, 62502 Putrajaya, Malaysia, Kenyataan Media YAB Perdana Menteri mengenai Belanjawan Tahun 2021, Budget 2021 to provide targeted support for economic vulnerable groups – PM. Release of the Economic Stimulus Package in light of the ongoing Novel Coronavirus outbreak in Malaysia. At the same time, the Government also agrees to extend a special allowance of RM200 a month to military, police, customs, civil defence and RELA members who are directly involved in enforcing the MCO. Summary. I face political, economic and health crisis all at the same time. About 169,000 additional front liners are expected to benefit from this initiative. This is in line with the Government’s focus to ensure the sustainability of economic growth. This measure is estimated to benefit 3.3 million workers with an allocation of RM5.9 billion. Replacement of Foreign Worker via Check Out Memo (COM) International Trade; Restricted Circulars; … Innovation Playbook. Malaysia has now issued over 290 billion ringgit (US$67 billion) worth of incentives since February 2020. RM128 billion for the people’s welfare . Policymakers project for the stimulus package to add 1.5% to GDP in 2020. This initiative is worth at least RM100 billion. The scheme will be administered by Bank Simpanan Nasional at 2% interest rate with no collateral. This service includes options for deferral of payments, restructuring and rescheduling of employer contributions. For instance, Makcik Kiah is a banana fritter hawker who resides in Desa Tun Razak PPR who’s spouse is a government pensioner and currently a Grab driver. Your email address will not be published. I have also instructed the Ministry of Finance through the Unit LAKSANA to ensure that this PRIHATIN package worth RM250 billion will reach the rakyat swiftly. In summary, the MICCI calls on the Government to consult the chambers or business associations who are at ground level, in the policy development process, especially during this critical period. In addition, the moratorium will be extended to loans from TEKUN, MARA and cooperatives as well as other government agencies providing financing to SMEs beginning 1 April 2020. The Government has previously agreed to defer the PTPTN loan repayment for all borrowers for 6 months. PUTRAJAYA, April 2 ― Prime Minister Tan Sri Muhyiddin Yassin today visited the Economic Stimulus Implementation & Coordination Unit Between National Agencies (Laksana) at the Ministry of Finance here to monitor the implementation of the Prihatin Rakyat Economic Stimulus Package (Prihatin… In this regard, the Government previously announced a one-month rental exemption for the PPR which is now extended to 6 months with a cost of RM3 million borne by the Government. In summary … In addition, the interest rate for the entire fund will be reduced from 3.75% to 3.5%. In aggregate, the PRIHATIN Package announced by the Government of Malaysia (Government) is valued at RM250 billion (compared to the Economic Stimulus Package for the global financial crisis of 2007 - 2008 valued at RM67 billion). The PRIHATIN Economic Stimulus Package (ESP) was unveiled by The Prime Minister on 27 March 2020. The Government will ensure surplus in the fiscal current account and will not borrow to finance operating expenditure. Therefore, the overall benefit that will be received by Makcik Kiah’s family which includes cash assistance and savings is RM8,664. Sukuk Prihatin is part of the National Economic Recovery Plan “ ... packages and recovery post Covid-19 includes but not limited to the following:-1) medical expenditure related to COVID-19 disease; 2) for financing/grants for micro enterprises; and 3) to enhance connectivity to rural schools, which will also act as hubs to connect nearby villages. THE following is the full televised speech text by Prime Minister Tan Sri Muhyiddin Yassin on the Additional Prihatin SME Economic Stimulus Package. This measure is expected to assist the company’s cashflow with a total savings of RM440 million; Third: Empathising problems faced by some 750,000 SMEs, the Government also allows the postponement of income tax instalment payments to all SMEs for a period of 3 months beginning 1 April 2020. In addition, Makcik Kiah’s family will enjoy PPR rental savings of RM744 for 6 months; savings of RM1,800 from hire purchase moratorium for 6 months; and electricity bills savings of RM120 for 6 months. For this, I have announced an allocation of RM500 million to the Ministry of Health (MOH). And, this Government may not be the Government that you voted for. I am aware that those residing in the longhouses in Sarawak, in orang asal settlements, in rural areas throughout the nation may worry that these assistances will take some time to reach them. It is the same for the vulnerable groups such as the elderly and children in shelters, the disabled, the homeless and orang asal. PUTRAJAYA: Prime Minister Tan Sri Muhyiddin Yassin today announced RM250 billion Prihatin Rakyat Economic Stimulus Package or PRIHATIN that will bring benefit to the people and all quarters affected by the Covid-19 crisis in the country. Maximum financing amount is also increased from RM50,000 to RM75,000 for each entrepreneur. Makcik Kiah’s daughter is a PTPTN borrower. It was followed by the Prihatin Package for Small and Medium Enterprises (SMEs) (Additional Measures) on April 6, 2020, National Economic Recovery Plan (Penjana) on June 5, 2020 and the Prihatin Supplementary Initiative Package (Kita Prihatin) on September 23, 2020. The facility is targeted at viable businesses in all sectors facing difficulties due to the COVID-19 outbreak. Meanwhile, family takaful and insurance companies will offer a 3-month suspension on premiums by contributors whose source of income is affected by the pandemic. Of this, almost RM128 billion will be channelled to preserve rakyat’s welfare, RM100 billion to support businesses, including SMEs and RM2 billion to strengthen the economy. The third package worth RM10 billion (PRIHATIN Plus) was announced on 6 April 2020. KUALA LUMPUR, March 28 -- Malaysia’s Prihatin Rakyat Economic Stimulus Package (PRIHATIN) is among the largest in the world, according to Minister in the Prime Minister’s Department (Economy), Datuk Seri Mustapa Mohamed. Fourth: SMEs with business records of less than 4 years can also leverage the BizMula-i and BizWanita-i schemes for financing up to RM300,000 under the Credit Guarantee Malaysia Berhad (CGC). Prime Minister, Tan Sri Muhyiddin Yassin, addressed the nation live today at 2.30 pm concerning additional initiatives and packages that will be implemented under Kita Prihatin, to improve the country’s economy during this pandemic. Summary and Highlights of the 308th FMM Council Meeting on July 23, 2020; Summary & Highlights of 309th FMM Council meeting held on September 24, 2020; 52nd FMM Annual General Meeting on Thursday, November 26, 2020; FMM New Council Line-up for 2020/2021; Policies & Regulations. Almost all of these measures are one-off to ease Federal Government’s financial burden in the medium-term. I accepted the fact that I came in as your Prime Minister not at the best moment. The payment will be made in April 2020. This stimulus package provides an array of tax incentives, financial support for businesses, and wage subsidies. The PRIHATIN package manifests the Government’s concern for the welfare and well- being of the rakyat. Meanwhile, for the rent-to-own (RTO) units, a 6-month moratorium is provided effective April 2020, totalling RM5.7 million, involving 4,649 RTO units. This sector will not be neglected. Summary: The Malaysian Government announced the PRIHATIN Economic Stimulus Package… The measures announced in this Package are aimed at ensuring the continuity of economic activities especially with the cash disbursement of Bantuan Prihatin Nasional. This initiative involves 3,636 units of PPR homes for rental or transit under the Ministry of Housing and Local Government (KPKT). As I have mentioned earlier, no one will be left behind. To ease your burden, the Government will provide the Bantuan Prihatin Nasional, a one-off cash assistance with an allocation of RM10 billion and for the first time will also be channelled to the M40 group. A chalet operator in Cherating or a trishaw operator in Malacca, a night market trader in Kuala Lumpur or market trader in Pasar Tamu, Kundasang, all of you will enjoy the benefit from this stimulus package which cares for the rakyat. Summary of Highlights of Permai Assistance Package . Prime Minister's Office of Malaysia Official Website. In addition, I have also instructed all Ministries to review their budgets to look for savings so that it can be used to meet the medium-term measures to curb the outbreak. 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