Highlights of the PEMERKASA+ aid package

The following are the key takeaways of the PEMERKASA+ aid package announced by Prime Minister Tan Sri Muhyiddin Yassin.

• Government reveals RM40 billion PEMERKASA+ aid package including RM5 billion direct fiscal injection, with three main goals:

  • Increasing the capacity of the public healthcare system

  • Continuing the Prihatin Rakyat agenda

  • Supporting business continuity

• Additional RM1 billion allocated to increase public health capacity to fight Covid-19, including to increase bed capacity, ICU equipment and extend contracts for more than 14,500 health personnels until 2022

• Government allocates RM2.4 billion for Bantuan Prihatin Rakyat from end-June

  • Additional RM500 for households with monthly income of up to RM2,500. Amount to be paid in July, after RM1,000 payment in June.

  • Additional RM300 for households with monthly income between RM2,501 and RM5,000

• Government launches bus and taxi hire purchase scheme worth RM1 billion

• One-month wage subsidy programme worth RM1.5 billion for 2.5 million eligible employees, 200,000 employers

• For B40s, eligible SMEs not allowed to operate during the MCO, and those who lost jobs, a three-month automatic loan moratorium or 50% payment reduction for six months is given. It is expected to assist five million borrowers and is worth RM30 billion

• BNM to add RM2 billion to its SME loan facilities bearing 3.5% interest rate, bringing total amount available to RM7 billion

• Hotel operators, travel and tourism agencies, shopping complexes and premises, convention centers, parks themes and local airline offices are eligible for 10% electricity bill discount for an additional three months between July and September 2021

• RM68 million in one-off aid for eligible tourist guides, drivers at RM500 each

• Home Ownership Campaign stamp duty exemption extended until Dec 31, 2021

• Sales tax exemption period for completely knocked-down (CKD) and completely built-up (CBU) passenger vehicles extended until Dec 31, 2021, from June 30, 2021

• Just like during MCO 1.0, salaries of ministers and deputy ministers for three months during June-August 2021 will be instead chanelled to Disaster Trust Fund for Covid-19 related expenditure

• MARA to continue the MARA PRIHATIN Peace of Mind programme until July 31, 2021. Borrowers can apply online for either a rescheduling or moratorium of their student loan repayments.

• For MARA entrepreneurs affected by the economic closure, a 30% discount is given on the rental of business premises from May to July, 2021