PM unveils RM250 billion Covid-19 stimulus package

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By Chew Lip Song

PRIME Minister Tan Sri Muhyiddin Yassin has announced a RM250 billion stimulus package to kickstart the economy hit by the Covid-19 outbreak.

Known as Prihatin, it will see RM128 billion being allocated for public welfare; RM100 billion to help businesses, including small and medium enterprises and RM2 billion to strengthen the economy. These are on top of the RM20 billion announced in the previous stimulus package.

“Everyone will benefit from this economic stimulus package. No one will be left behind,” Muhyiddin said in a televised address this afternoon.

He said an additional RM1 billion will be allocated to the Health Ministry to purchase medical supplies and hire doctors from the private sector to help contain Covid-19.

Insurance providers will also allocate RM8 million to policy holders to undergo Covid-19 screening, which costs RM300 each, if directed to do so by the Health Ministry.

Other highlights of the package:

  • Households earning less than RM4,000 per month would receive RM1,600 in total. RM1,000 would be paid in April and the balance in May.
  • Households earning between RM4,000 and RM8,000 would receive RM1,000. RM500 would be paid in April and the remainder in May.
  • Single individuals earning less than RM2,000 a month would get RM800. RM500 in April and RM300 in May.
  • Single individuals earning between RM2,000 and RM4,000 would get RM500. RM250 would be paid in April and another RM250 in May.
  • All students pursuing higher education will receive RM200 each, to be paid in May
  • Borrowers of the Skills Development Fund can defer their payments to Sept 30
  • Those in the B40 group and living in public housing schemes are exempted from paying rental for six months
  • Those renting in government premises are exempted from paying rent for six months
  • 50 per cent discount on power bills for usage less than 200 kilowatt; 25 per cent for usage between 201 and 300 kilowatt and 15 per cent for 301 to 600 kilowatt for the Apr bill
  • Free Internet for all between Apr 1 and the end of the movement control order
  • RM500 one-off payment to 1.5 million civil servants Grade 56 and below, including contract staff, payments to be made in Apr
  • RM500 to all pensioners, to be paid in Apr
  • RM500 one-off payment to all e-hailing drivers
  • RM5 billion allocated for SMEs
  • Employers are allowed to reschedule their EPF contribution for their employees
  • Employers will be exempted from contributing to the Human Resources Development Fund levy for six months starting Apr
  • The RM2 billion allocated for small projects announced earlier will roll out in Apr. This include repairing dilapidated schools in Sabah and Sarawak.

 

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