2nd July 2020 - 3 min read
Recipients of the Bantuan Sara Hidup (BSH) aid living in urban areas of Peninsular Malaysia, Sabah, and Sarawak will receive their payments for Phase 3 by the end of July, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
A total of RM3 billion has been allocated for this exercise, and it is expected to benefit 5 million recipients, comprising 3.8 million households and 1.2 million individuals. The amount of BSH aid awarded will be determined by the recipient’s income range, as follows:
|Categories||BSH Aid To Be Paid|
|Households earning less than RM2,000||RM600|
|Households earning between RM2,001 to RM3,000||RM350|
|Households earning between RM3,001 to RM4,000||RM100|
|Singles (40 years of age and above) earning less than RM2,000||RM400|
Note that the BSH aid paid during Phase 3 (figures show above) is inclusive of an extra RM100 financial aid, provided through the first economic stimulus package announced in February 2020. The extra cash, which was meant to encourage local consumption, was originally supposed to be paid out in May. It was subsequently postponed to July, to be disbursed together with Phase 3 of the BSH aid.
Tengku Zafrul also noted that households with children will receive an additional assistance of RM120 per child (below 18 years old), provided for a maximum of four children. “For example, households earning less than RM2,000 with four children will receive RM1,080,” he said.
Meanwhile, the payment for Phase 2 and 3 of the BSH aid for recipients in rural areas of Sabah and Sarawak (without bank accounts) will take place between 1 to 31 July 2020, to be facilitated by the Sabah Treasury and Sarawak Treasury. This also applies to the disbursement of Bantuan Prihatin Nasional (BPN) payments for the same group of recipients.
“This initiative will benefit 53,325 recipients with a total financial payout of RM28.7 million,” said Tengku Zafrul in a press statement for the 11th LAKSANA report on the implementation of the Prihatin economic stimulus plan and the PENJANA economic recovery plan. The statement also included updates on other initiatives, including the i-Lestari Withdrawal Scheme and the wage subsidy programme.
The BSH programme was first announced during Budget 2019, aimed at alleviating the burden of Malaysian households, particularly those from the B40 group. It was subsequently expanded during the tabling of Budget 2020 to cover single individuals aged 40 and above, and all disabled persons aged 18 and above with a monthly income of less than RM2,000.
(Source: Malay Mail)
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world