#TTFCovid19: After feedback, Muhyiddin adds RM10 billion to Prihatin package for Small and Medium Enterprises

Muhyiddin said the additional allocation included a total of RM2.1 billion in grants that would be channelled to micro businesses registered with the Inland Revenue Board (IRB) as of January this year. Source (pic): TTF Files

سلڤس معلوم بالس، محي الدين تمبه رم10 بيلياون ڤد ڤاكيج ڤريهاتين اونتوق سمى

#TTFCovid19: The government has allocated an additional RM10 billion for Small and Medium Enterprises (SMEs) under the Prihatin Rakyat Economic Stimulus Package.

Prime Minister Tan Sri Muhyiddin Yassin said from the total, RM7.9 billion has been allocated for the Wage Subsidy programme, an increase from RM5.9 billion to RM13.8 billion.

The prime minister said he had received feedback from SMEs and micro businesses who were affected and were in need of assistance from the government.

Among the issues, he said, included cash flow problems following the implementation of the Movement Control Order (MCO) as well as red tape in accessing assistance from the government.


KUALA LUMPUR: The government has allocated an additional RM10 billion for Small and Medium Enterprises (SMEs) under the Prihatin Rakyat Economic Stimulus Package.

Prime Minister Tan Sri Muhyiddin Yassin said from the total, RM7.9 billion has been allocated for the Wage Subsidy programme, an increase from RM5.9 billion to RM13.8 billion.




He said the additional allocation included a total of RM2.1 billion in grants that would be channelled to micro businesses registered with the Inland Revenue Board (IRB) as of January this year.

He said SME sector contributed towards 40 per cent of the country’s economy, thus it was imperative to protect the interest of the companies.

The prime minister said he had received feedback from SMEs and micro businesses who were affected and were in need of assistance from the government.

Among the issues, he said, included cash flow problems following the implementation of the Movement Control Order (MCO) as well as red tape in accessing assistance from the government.

“I have asked the finance minister to hold discussions with the businesses to seek solutions following this.

“The wage subsidy would benefit 4.8 million workers with a monthly income of RM4,000 and below.

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“If there are more than 200 workers in the company, an additional RM600 is allocated per worker (an increase from 100 workers as previously reported),” he said in a special address broadcasted live today.

He said companies with 76 to 200 workers would get a wage subsidy of RM800 for each local employee, while those with 75 workers and less would receive a RM1,200 wage subsidy for each local worker.

Muhyiddin had on March 27 announced the RM250 billion Prihatin Rakyat Economic Stimulus Package (Prihatin) that would benefit those affected by the Covid-19 crisis in Malaysia.

Of the total, RM128 billion has been set aside to protect the welfare and well-being of the people.

Under Prihatin, the government has allocated RM100 billion to help businesses including SMEs.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz had said that the special stimulus package, aimed to ease the burden of Malaysian SMEs amid the global pandemic, was drafted after several meetings between the ministry and SME representatives.

It has also engaged the International Trade and Industry Ministry and SME Corporation Malaysia in finalising the proposal.

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