THE newly announced Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) has affirmed the government's commitment to continuously assist those affected by the prolonged Covid-19 pandemic.
Worth RM150 billion, including a direct fiscal injection of RM10 billion, the government's eighth economic stimulus package will benefit Malaysians from all walks of life.
The package, according to Prime Minister Tan Sri Muhyiddin Yassin, is based on three main focuses: continuing the Prihatin Rakyat agenda supporting businesses, and increasing the vaccination rate.
In continuing with the Prihatin Rakyat agenda, the six-month moratorium offered is estimated to bring some relief to individual borrowers without conditions (including B40, M40, T20), while the Employees' Provident Fund's i-Citra facility will allow 12.6 million members to withdraw up to RM5,000 of their savings via a fixed payment of RM1,000 a month for five months.
The moratorium without conditions, Muhyiddin said when announcing Pemulih, was announced after listening to grievances from the M40 and T20 groups who have more dependents, as they are also helping family members or relatives affected by Covid-19.
Previously, the moratorium was offered only to targeted borrowers who have lost their jobs and income.
In Pemulih, the government had also announced direct cash assistance to the people totalling RM5.6 billion, which comprises Bantuan Prihatin Rakyat (BPR) and Special Covid-19 Assistance (BKC).
The BKC, worth RM4.6 billion, will benefit over 11 million households, senior citizens and singles in the hardcore poor, B40, and M40 categories.
In the hardcore poor category, households will receive RM500 in August and November as well as RM300 in December, while single people will get RM200 in August and RM300 in November.
Households in the B40 category will get RM500 in August and RM300 in December, while single people will receive RM200 in August.
The M40 households and singles will get RM250 and RM100 respectively in August.
In supporting businesses, the six-month moratorium is estimated to bring relief of up to RM20 billion to business borrowers, along with RM20 billion of government guarantees for SME financing and new SME loans worth RM4.4 billion.
Under the Wage Subsidy Programme and Insentif Pengajian, RM4.2 billion has been allocated to allow employers to retain their employees and help business continuity and for those who want to find jobs.
The government has also allocated RM1 billion under the Prihatin Special Grant that will benefit over one million eligible SMEs, along with RM1.5 billion to support other businesses.
To increase the vaccination rate, the government had allotted RM1 billion to achieve herd immunity as soon as possible, with several new initiatives that have been drawn up to further empower the Covid-19 National Immunisation Programme (NIP).
The allocation is to increase the country's vaccine supply, as well as to add 29 vaccination centres (PPV) on top of the current 341 PPVs as well as introducing drive-through, mobile, and Home-to-Home Outreach PPVs.
As an example, poor B40 single mother Aisyah, who five months ago lost her job that paid RM1,200 a month, would receive assistance worth RM7,310 between July and December.
Under Pemulih, she will receive cash aid of RM3,700; inclusive of BPR of RM500 (this month) and RM1,400 (in September), BKC of RM1,300 (RM500 in August and November, and RM300 in December), and Income Loss Assistance (BKP) of RM500.
In addition, she is also eligible for RM300 under MyKasih to purchase essentials and RM150 for a food basket.
She will also receive another RM1,000 under the Social Security Organisation's Employment Insurance System (EIS) and Job Seeking Allowance and RM300 under Jaringan Prihatin.
To support her children, Aisyah will receive RM300 for six months, amounting to RM1,800, along with an electricity discount of RM60 (RM20 per month, for three months).
As for school bus driver Vijay, who was earning RM2,500, he would receive cash assistance of RM3,620 between July and December.
Vijay, from the B40 group, will receive BPR+ of RM500, RM1,400 (BPR), and RM800 (BKC), along with RM500 aid for school bus drivers.
He would also enjoy an electricity discount of RM120 (RM40 per month, for three months), and RM300 under the Jaringan Prihatin.
Vijay, who has been servicing his car loan of RM400 per month, will get to enjoy a moratorium for six months, worth RM2,400.
He also gets to withdraw money via the i-Citra facility worth RM5,000.
Last year, four stimulus and assistance packages were unveiled by the government to cushion the impact of the Covid-19 pandemic.
The four packages, worth RM305 billion, including the government's direct fiscal injection of RM55 billion, were Prihatin Rakyat Economic Stimulus Package (Prihatin); Prihatin Rakyat Economic Stimulus Package for Small and Medium Enterprises (Prihatin PKS+); The Economic Recovery Plan (Penjana), and The Prihatin Supplementary Initiative Package (Kita Prihatin).
This year, the government had unveiled three stimulus and assistance packages, worth RM75 billion.
The three are Perlindungan Ekonomi dan Rakyat Malaysia (Permai); Strategic Programme to Empower the People and Economy (Pemerkasa), and Supplementary Strategic Programme to Empower the People and Economy (Pemerkasa Plus).
For more information and to check on eligibility, visit https://belanjawan2021.treasury.gov.my/manfaat/