26th March 2020 - 1 min read
The prime minister, ministers, and deputy ministers in the Malaysian Cabinet will be taking a two-month pay cut amidst the ongoing Covid-19 situation in the country. Their salaries will instead be channelled into the national Covid-19 Fund, also known as Tabung Covid-19.
According to the Prime Minister’s Office, this move is demonstrative of the government’s determination to help those who have been negatively affected by the Covid-19 pandemic. The decision was made during yesterday’s Cabinet Meeting on 25 March.
The Covid-19 Fund was launched on 11 March as part of the government’s efforts to assist the rakyat who have been directly affected by the virus. As of yesterday, the total amount of donations collected by the fund stands at RM8,493,103.48, inclusive of the government’s initial grant.
Those who are interested in contributing to the Covid-19 fund can send donations to Bank Muamalat account 1601-0001138-71-4.
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
Comments (0)