(Source: Bernama)

Prime Minister Tan Sri Muhyiddin Yassin has announced a RM15 billion Pakej Bantuan Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) aid package to combat the Covid-19 outbreak, safeguard people’s welfare, and support business continuity following the implementation of the second movement control order (MCO 2.0). The full announcement can be found here. It’s a pretty long speech, but the highlights are listed below:

  • There are 22 initiatives under PERMAI, anchored on three main objectives: combating the Covid-19 outbreak, safeguarding the welfare of the people and supporting business continuity.
  • Government has signed three agreements with COVID-19 vaccine producers, first batch expected to arrive by end February 2021.
  • One-off aid of RM500 to all healthcare frontliners, RM300 to other COVID-19 frontliners will be paid in first quarter of this year.
  • Vaccine procurement transparency, National Immunisation Programme given focus through Special Committee on Covid-19 Vaccine Supply Access Guarantee.
  • The National Consultative Council for Islamic Affairs has decided use of COVID-19 vaccine is permissible, must be taken by the stipulated groups.
  • JKM to implement Food Basket Programme to provide essential food items worth RM100 for each eligible household.
  • Private hospitals on board to accept, treat COVID-19 and non-COVID-19 patients to lighten burden on the public healthcare system; RM100 million allocated for this purpose.
  • Special tax relief up to RM2,500 for purchase of mobile phones, computers and tablets extended until Dec 31, 2021.
  • Payment for final phase of BPN 2.0 will be expedited, will start from Jan 21.
  • Free 1GB data for the public including for educational purposes from Jan to April 2021.
  • Government announces improvement in Wage Subsidy Programme 3.0 under PERKESO, whereby all employers operating during MCO are eligible to apply, regardless of sector.
  • The Wage Subsidy Programme 3.0 involving an additional allocation of RM1 billion is estimated to benefit 250,000 employers who hire more than 2.6 million employees.
  • Wage Subsidy Programme: For one month period, eligible employers will receive subsidy of RM600 for each employee with pay of less than RM4,000, limited to 500 workers.
  • PTPTN: Borrowers affected by COVID-19 pandemic or floods can apply for three-month moratorium on loan repayment, deadline for application March 31, 2021.
  • A one-off financial assistance of RM500 to tourist guides, drivers of taxis, school buses, tour buses, rental cars and e-hailing vehicles.
  • Government allows foreign-owned companies operating in Malaysia to obtain guarantee under Danajamin PRIHATIN Guarantee Scheme (SJPD), provided that local employees account for 75% of their workforce.
  • To finance the PERMAI assistance package, government will reallocate existing funds based on current priorities and through more prudent spending.
  • Govt will facilitate implementation of microcredit schemes and e-commerce campaigns.
  • Government has set aside initial allocation of RM200 million to alleviate people’s burden due to the floods.
  • The current impact of the MCO on the economy is still under control.
  • Government allows foreign-owned companies operating in Malaysia to get guarantee from Skim Jaminan Prihatin Danajamin on condition the number of their local workers is at least 75%.
Fund allocation breakdown for Pakej Bantuan Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI)
Fund allocation breakdown for Pakej Bantuan Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) (Source: The Star)