Finance Minister: RM11.996 Billion Approved For Wage Subsidy Programme
Author Avatar

tengku dato sri zafrul aziz

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that RM11.996 billion worth of wage subsidies has been approved under the Wage Subsidy Programme as of 9 October.

According to the minister in the 26th LAKSANA report, the approved amount is expected to benefit 322,134 employers and 2.6 million employees. The Wage Subsidy Programme was first introduced under the PRIHATIN economic stimulus package, running from April to June. It was later extended to September under the PENJANA economic recovery plan, and then prolonged once more until December via the KITA PRIHATIN economic package. Both extensions saw some amendments to the conditions for application, although the subsidy provided is unchanged at RM600.

The latest LAKSANA report also contained updated figures on several other stimulus package initiatives that have been implemented by the government, such as the RM50 ePENJANA credit programme. The programme, which ended on 30 September, provided eligible individuals with RM50 worth of e-wallet credit to encourage consumer spending. Tengku Zafrul noted that the programme had benefitted 11.36 million people, amounting to a total disbursement of RM567.9 million.

e tunai e wallets photo

(Image: The Sun Daily)

“The e-wallet providers – such as Boost, GrabPay, and Touch ‘n Go eWallet – have also contributed benefits in the form of credit matching and various other incentives, amounting to RM433.8 million in an effort to boost the Malaysian economy,” said Tengku Zafrul.

Other highlights mentioned in the report include the PENJANA financing initiative to assist small and medium enterprises (SMEs), and the PENJANA Credit Micro Financing initiative for SMEs and micro SMEs in the retail and services sector (offered under Bank Simpanan Nasional). Tengku Zafrul also commented that the Finance Ministry is in the process of drafting Budget 2021, holding joint sessions between ministries to discuss proposals as well as operational and development needs.

You can read the 26th LAKSANA report in full here.

(Source: The Star)

5 1 vote
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
The RinggitPlus Team
- 14th July 2021
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.
Post Image
Malaysian Banks And Local Institutions Offer Financial Assistance For Customers Affected By Covid-19
Alex Cheong
- 1st April 2020
(Last update: 1 April 2020, 3.40pm to include FAQs by banks.) With Malaysia going into an extended period […]
Post Image
How to Decide Whether to Buy a New or Used Car
The RinggitPlus Team
- 25th January 2019
Considering an upgrade on your wheels or a first car? The eternal question would be whether to buy a new or used car. We take on the question of buying new or used and turn it inside out to help you make a decision.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image