PM: A household could get up to RM7,864 aid from RM250b stimulus package

Soo Wern Jun
A woman makes her way out of the Chow Kit wet market with her groceries in Kuala Lumpur March 27, 2020. ― Picture by Ahmad Zamzahuri

KUALA LUMPUR, March 27 — A household could get up to RM7,864 worth of aid under the second economic stimulus package announced by Prime Minister Tan Sri Muhyiddin Yassin today.

In his speech, Muhyiddin gave the example of “Makcik Kiah”, whose husband is a retired civil servant and has a child with a study loan from the National Higher Education Fund Corporation (PTPTN).

“I want to offer this example as a simple calculation.

“Say, Makcik Kiah is a pisang goreng (banana fritters) seller and stays at the Desa Tun Razak People’s Housing Project (PPR), and her husband is a civil servant retiree who drives Grab and her son is a PTPTN borrower. Makcik Kiah’s household has a RM4,000 monthly income.  

“Makcik Kiah’s family will receive RM1,600 of the Bayaran Prihatin Nasional, balance of BSH worth RM600, retiree one-off payment RM500 and e-hailing aid worth RM500.

“If Makcik Kiah’s husband serves with RELA, he will also receive RM200 per month until the end of the Covid-19 containment period. Makcik Kiah’s family will receive up to RM3,400 worth of aid,” said Muhyiddin during his address through a “live” broadcast on national television channel RTM.

Apart from that, Makcik Kiah will also save, over a period of six months, up to RM744 from the PPR rental delay, RM1,800 from the delayed payment of her car loan and up to RM120 in electricity bill payment delays, the prime minister added.

“Makcik Kiah’s child will also be able to save RM1,200 on six months’ delayed PTPTN repayment.

“If Makcik Kiah has applied for a micro credit loan for her pisang goreng business with a loan repayment of RM100 a month, she will be able to save up to RM600.

“The total savings are at RM4,464. So, the overall value of benefits that Makcik Kiah’s family will receive, inclusive of cash and savings, is worth RM7,864.

“So Makcik Kiah can smile a little after hearing this calculation that I’ve made,” said Muhyiddin.

The one-off payments and loan repayment delays are part of the RM250 billion second stimulus package announced by Muhyiddin to address economic concerns caused by the Covid-19 outbreak.

In February, former prime minister Tun Dr Mahathir Mohamad announced a RM20 billion economic stimulus package to help industries affected by the Covid-19 outbreak.

The stimulus package was to be implemented over six months from March.

The package included a 15 per cent discount on electricity bills for airline companies, shopping malls and exhibition malls.

Taxes for hotels were also to be reduced and the levy imposed for training would be removed temporarily.

The second economic stimulus package will channel aid to affected Malaysians during the movement control period (MCO) that started on March 18 and has been extended to April 14.

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