M’sia Economic Stimulus Package
M’sia Economic Stimulus Package
Image adapted from: Behance & Today Online
With an increasing number of cases and an extended Movement Control Order (MCO), many in Malaysia have been worried about how to make ends meet if this plight doesn’t improve.
In a timely announcement on 27th March 2020 at 3PM, Prime Minister Tan Sri Muhiyiddin Yassin outlined an Economic Stimulus Package valued at RM250 billion that’s meant to benefit people from all walks of life in Malaysia. Here are some highlights from his speech:
Up to 50% discounts on electricity bills
Image credit: TNB
Tenaga Nasional Berhad (TNB) announced on 23rd March that there will be a 15% discount on those most affected by COVID-19, and a 2% discount for residential, commercial, industrial and specific agriculture.
And with most of us staying home and keeping busy and comfy inside, we’re glad to hear that the government has allocated an additional RM530 million for tiered discounts between 15% to 50%, depending on electricity usage.
Image adapted from: @MuhyiddinYassin
Financial support for everyone, including e-hailing drivers
Image credit: Grab MY
PM Tan Sri Muhiyiddin Yassin made sure to mention that “No one will be left behind” in his speech. And reflecting that, there will be increased allowances for medical and government workers, as well as one-off financial relief for individuals including low-income households, students, and even e-hailing drivers.
In the previous economic package, there were 120,000 e-hailing drivers in Malaysia who were able to claim RM600 one-off. Now they will be able to receive an additional RM500 for a total of RM1,100, as RM60 million has been added onto their stimulus package.
Image adapted from: @MuhyiddinYassin
6 months free rent for those living in PPR
Image credit: Durian Property
It was initially announced that those living in People’s Housing Project (PPR) housings will have their rents waived for a month. But it has now been extended to 6 months so residents in these homes can focus on paying for essentials during this time.
Image adapted from: @MuhyiddinYassin
Free internet for the duration of MCO
There’s no doubt that most of us have been worried about running out of internet data as we stream our favourite TV shows while staying at home. So you’ll be glad to know that Malaysians will now be able to have access to free internet (1GB/day) from 1st April 2020.
This comes with an added allocation of RM600 million to telecommunication companies.
Image adapted from: @MuhyiddinYassin
Economic Stimulus Package for COVID-19
These measures taken by the government to alleviate the burden of the rakyat is a welcomed relief as we move into an extended MCO period. We can continue to stay at home and help flatten the COVID-19 curve without having to worry too much about our finances during these difficult times.
Read more COVID-19 news here:
- Johor brothers voluntarily sanitise streets
- Perak policeman feeds stray cats
- M’sian police arresting those violating MCO
- M’sians are sanitising their money against COVID-19
- King and Queen are now placed under quarantine
- Tealive has BBT kits for those staying at home during MCO
- Students raise RM3,700 to feed stray cats during MCO