Pemulih: Extra BPR payments and 6 months loan moratorium

By S. Harrish

THE government today announced a RM150 bil aid package to help the people and businesses with initiatives and cash handouts.

Prime Minister Tan Sri Muhyiddin Yassin listed a number of initiatives under the “Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih)”.

Among them is an extra RM500 for Bantuan Prihatin Rakyat (BPR), that will be paid starting June 29.

The third BPR payment of between RM100 and RM1,400, will be paid in September as well as payments for those with successful appeals.

A total of RM4.9bil will be paid out under BPR.

Other highlights include:

– A six-month automatic loan moratorium for all borrowers. They only need to apply and approval will be given automatically by the banks. It will be open from July 7, 2021.

– EPF will introduce a new withdrawal facility called i-Citra to make withdrawals of up to RM5,000 with a fixed payment rate of RM1,000 per month for five months

– Expanding job seekers’ allowance to Social Security Organisation (Socso) non-contributors, especially new graduates and informal sectors. They can register at MYFutureJobs and will receive an allowance of at least RM300.

– Bantuan Khas Covid-19 (BKC) initiative for several categories. They are:

i) Households of hardcore poor will receive RM500 in August, RM500 in November, and RM300 in December. Singles from this category will receive RM200 in August and RM300 in November.

ii) B40 households will receive RM500 in August and RM300 in December. Singles from this category will receive RM200 in August.

iii) M40 households will receive RM250 while singles in this category will receive RM100 in August.

These will benefit more than 11 million households and the elderly as well as singles with an allocation of RM4.6bil.

– RM10mil for the food basket initiative, especially for the Orang Asli

– RM1bil in subsidies for cooking oil remains at RM2.50,

– RM15mil for NGOs to help social issues such as mental health and homeless,

– RM6 bil subsidies to maintain the retail price for RON95 petrol, diesel and LPG

– Price control programme to control the price of 1kg to 5kg of cooking oil bottles.

– Electricity bill discounts of between 5% and 40% up to a maximum usage of 900 kWH.

– Economic sectors such as hotels, theme parks, convention centres, shopping malls and tour operators will get a three-month extension of electricity bill discounts of 10% from October to December.

– Telecommunications companies have agreed to extend the 1GB of daily free data until the end of the year.

– Additional RM500 to eligible recipients under the Prihatin Special Grant (GKP) 3.0 initiative

– RM18mil for local banks to provide about 30 units of mobile banks in Peninsular Malaysia, Sabah and Sarawak, covering 250 rural localities.

– Wage Subsidy Scheme to continue with an allocation of RM3.8bil, expected to benefit more than 2.5 million workers. There are no salary limit conditions and those earning more than RM4,000 are eligible for it

– Automatic HRD levy exemptions for two months to employers who are not able to operate during the lockdown.