KUALA LUMPUR: The government will allocate an additional RM2.1 billion for financial aid under Bantuan Prihatin Rakyat (BPR) to protect the livelihoods of the people.
Prime Minister Tan Sri Muhyiddin Yassin said Pemerkasa Plus' second objective stressed on the continuation of Agenda Prihatin Rakyat in ensuring the vulnerable group and those depending on daily wages kept receiving assistance.
"Households with income under RM2,500 will receive additional RM500 BPR aid, while those with income between RM2,501 and RM5,000 will receive RM300. Meanwhile, bachelors will each receive RM100.
"The additional BPR aid would be transferred to the recipients' bank account by the end of June. This is an additional assistance to the BPR aid given out in September totalling RM2.4 billion."
In addition, he said optional loan moratorium would also be offered to the B40 group and people who have lost their jobs, as well as micro entrepreneurs and small and medium enterprises (SMEs) that were not able to operate during the Movement Control Order (MCO).
He said the groups could either opt for an automatic three-month loan moratorium or reduction in loan repayment of 50 per cent for six months.
He said the initiatives would be implemented immediately in June and would benefit over five million borrowers with an overall value of up to RM30 billion.
"Insya-Allah, the banking industry will provide more details beginning tomorrow. I hope that this would provide relief to the banking institutions' borrowers.
"Borrowers only need to contact the respective banks to benefit from this assistance."
Muhyiddin said the government would also launch a RM1 billion Hire-Purchase Rehabilitation Scheme for Buses and Taxis, where eligible operators would be able to get a loan moratorium of up to 12 months and an extended period of up to 36 months.
He also recommended that government agencies and companies provide loan deferment and rental discounts for business premises.
He said Majlis Amanah Rakyat (Mara) would continue with its Mara Prihatin Peace of Mind programme until July 31, whereby borrowers were able to apply for rescheduling of loan repayment or moratorium.
A 30 per cent discount on rentals of premises from May to July would also be given to Mara entrepreneurs affected by the closure of economic sector.
On employment, Muhyiddin said the government has decided to extend the Wage Subsidy Programme under the Social Security Organisation (Socso) for another month to all affected sectors totalling RM1.5 billion, with the number of employees capped at 500 for each applicant, to be subsidised by the government.
Some 2.5 million workers and over 200,000 employers were expected to benefit from the programme, he said.
Employers registered with Pembangunan Sumber Manusia Bhd would also be exempted from levy payment for June.
He also announced a RM500 one-off cash aid for 17,000 registered tour guides, 40,000 taxi drivers, 11,000 school bus drivers, 4,000 express bus drivers and 62,000 charter and e-hailing drivers.
The financial aid, totalling RM68 million would be channelled to registered recipients in July.
Workers, on the other hand, could improve their knowledge and skills for free through the e-Latih portal, which offers 400 modules and skills courses.
The government will continue to assist businesses to ensure their sustainability, especially SMEs, in managing their cash flow through the Prihatin Special Grant (GKP).
Muhyiddin said an additional RM500 aid, which brings the amount to RM1,500, will benefit close to one million SMEs and micro enterprises.
He said they are set to receive RM1,000 in mid-June and RM500 in July.
As the latest Standard Operating Procedure allowed petty and street traders as well as micro enterprises to operate, Muhyiddin said they could seek for a micro-credit financing as working capital.
"Up to RM1.5 billion is allocated throughout this year by Bank Simpanan Nasional (BSN), Tekun, Mara, SME Corp as well as the Malaysian Islamic Economic Development Foundation (YaPEIM) with financing rates as low as three per cent.
"Banking institutions will also continue to offer financing and loan facilities. Banking institutions' funds have been enhanced through various SME easy loan facilities under Bank Negara Malaysia (BNM) that still has a balance of RM5 billion.
"To further support affected SMEs, BNM will add RM2 billion more to the Targeted Relief and Recovery Facility. With that, the existing total loan fund for SMEs is RM7 billion at the loan rate of 3.5 per cent," he said.
The Inland Revenue Board, Muhyiddin added, will also consider appeals on penalties and to delay its payment to next year as well as to provide a tax arrear repayment schedule to affected taxpayers and businesses.
"The Temporary Measures for Reducing The Impact of Coronavirus Disease or Act 829 will also be improved to assist businesses and people who are affected. Protection related to the inability to carry out contract obligations will be extended until Dec 31 this year.
"The government will also provide a free mediation service through the Covid-19 Mediation Centre to all businesses and people regardless of their background.
"The government will also extend the electricity bill discount to the affected sectors. Hotel operators, tour and travel agencies, shopping mall and complexes, convention centres, theme park and local airline companies are eligible for a 10 per cent discount for three additional months from July to Sept this year."
Muhyiddin said a balance of RM17 billion from the Covid-19 Fund (Kumpulan Wang Covid-19) will be spent for initiatives and programmes such as Phase 2 of the Bantuan Prihatin Rakyat.
He said RM2.7 billion in cash aid had been disbursed to 8.4 million recipients, while Phase 3 of Bantuan Prihatin Rakyat, which involves an RM2.4 billion allocation, is scheduled in September.
"There will also be a wage subsidy and training programmes as well as hiring incentives to help secure existing jobs and to encourage the providing of 500,000 new jobs for this year.
"The e-Belia programme will also be opened for registration from tomorrow (June 1) to enable 2 million youths and eligible higher learning institution students to receive a RM150 credit from e-wallet service providers," he said.