Earlier this afternoon, PM Muhyiddin Yassin has announced the nation‘s newest financial aid package for PEMULIH, worth RM 150 billion, with RM 10 billion of direct fiscal injection.
PEMULIH financial aid will focus on these three aspects:
1. Citizen Welfare
2. Continuity of businesses
3. Escalation of vaccination rate
Starting August, the government will be providing financial aid or phase three of BPR amounting to RM 4.9 billion. The amount will be between RM 100 to RM 1,400 according to groups:
• RM1,300 for extremely poor families
• RM500 for badly off singles
• RM800 for B40 families
• RM200 for B40 singles
• RM250 for M40 families
• RM100 for M40 singles
Those who suffer from unemployment or lost their income source will be entitled to receive RM 500 based on EPF and SOCSO data. Whereas fresh graduates and informal sector workers who are not under SOCCO are urged to register with MyFutureJobs or Employment Insurance System (EIS) PERKESO Malaysia in order to receive a RM 300 allowance.
For food basket distribution purposes, All MPs (including the opposition) will receive an allocation of RM 300,000 to be distributed as food aids to their constituencies. As for the prices of petrol RON95, diesel and LPG, all will remain the same as the government will subsidise up to RM 6 billion. Oil prices in supermarkets will also be under the government's supervision and will not be allowed to be sold for more than RM 30.
The government has also decided to grant a 5-40 % discount on electricity bills with a maximum limit of 900 kilowatts per hour. Affected economy sectors (shopping malls, hotels, etc) will receive a 10% discount on electric bills from October to December 2021.
Those in the entertainment sectors (musicians, actors, actresses, production crews etc). the government will be allocating RM 100 million in assistance which will include incentives, career and upskilling opportunities and more. As for the sports sector, they will be given a one-off RM 3000 assistance, as will the tourism agencies. RM500 will also be given as an allowance to disabled employees.
Employees will also be able to extract RM 5000 from their EPF account through the i-Citra facility, with RM 1000 credited to your account each month. For PTPTN borrowers, they will be entitled to a three-month moratorium. Other postponements include postponement of Insurance premium payment extended until the end of 2021 and a 6-month moratorium for all B40, M40, and T20 on personal bank loans with no conditions.
Other highlights of PEMULIH:
• Additional RM400 million to increase vaccine procurement up to 130%
• Increment of special monthly allowance for front liners on vaccination program from RM200 to RM600, starting July 2021
• RM150 million for Phase 4 PIKAS Industries Public-Private Vaccination program
• Up to RM30 travel subsidy for OKU and elderly taking taxis and e-hailing
• Targeted education loan moratorium for 3 months
• 6 month postponement of JPA Federal Education Loan
• MARA education loan postponement for 3 months, or RM100 for 12 months
More to come.
