KUALA LUMPUR, March 27 (NNN-BERNAMA) — Malaysian Prime Minister on Friday announced an economic package amounting to RM250 billion aimed at the welfare of the people, support of businesses and strengthening the economy against the effects of the COVID-19.
The amount includes a fiscal boost of RM22 billion, government guarantees amounting to RM55 billion and other initiatives amounting to more than RM153 billion.
Together with the RM20 billion announced earlier, a total of RM128 billion will be channelled for the well being of the people, RM100 billion to support businesses including the small businesses and RM2 billion to beef up the economy.
The Prime Minister who made the announcement via television broadcast today said the government’s priority now remained in combating the spread of the COVID-19.
The package will offer immediate help so that the burden faced by all the people will be reduced, he said.
Highlights of the economic assistance package:
* RM500 one-off cash aid for single individuals aged 21 and above with monthly income of over RM2,000 up to RM4,000
* Federal government premises such as school canteens, nurseries, cafetaria and convenience stores exempted from rent for six months
*RM800 one-off cash aid to single individuals aged 21 and above with monthly income of RM2,000 and below
* Gov’t pensioners to receive RM500 one-off cash aid
— NNN-BERNAMA