The Finance Minister II told reporters the 1 Malaysia people’s aid (BR1M) will see an increase upon the announcement of Budget 2014. Not only that, there will be a new mode of disbursement.

“BR1M’s distribution method will be changed into being disbursed twice a year instead of once come 2014 and the government plans to deposit the money straight into the recipient’s bank account.” said Finance Minister II Datuk Seri Ahmad Husni Hanadzlah.

It will of course be less of a hassle for recipients to collect their BR1M as the distribution method now is done through cash vouchers.

Lastly, Ahmad Husni stated that the government will plan to look at a model to aid those earning a household income of RM4,000 to RM5,000 but made no indications as to what these might be. Considering the recent petrol price hikes, and the almost inevitable introduction of GST, there is no doubt that even middle income earners with household levels of RM5000 will need some help to manage their rapidly disappearing money.

*Picture courtesy from Newsabnxcess.com

 

• TAGS:
• 1 Malaysia People's Aid
• BR1M
• Budget 2014
• Datuk Seri Ahmad Husni Hanadzlah
• Personal Finance