1 Jun - 2 min read
Prime Minister Tan Sri Muhyiddin Yassin has announced that the government will be providing additional Bantuan Prihatin Rakyat (BPR) aid of between RM100 to RM500 for eligible households and individuals under the latest PEMERKASA+ stimulus package. On top of that, the B40 income group as well as businesses and individuals affected by the movement control order (MCO) will be able to tap into an extended loan repayment assistance and moratorium from banks.
With regard to the latest BPR aid, the following groups will be entitled to these additional amounts of financial aid:
|Groups/Eligibility||Additional BPR aid|
|Households with monthly income of below RM2,500||RM500|
|Households earning between RM2,501 to RM5,000||RM300|
|Single individuals with monthly income of below RM2,500||RM100|
Muhyiddin clarified that these payments will be made on top of the final payment phase of the BPR aid (slated to take place in September 2021), and will be credited to the recipients’ accounts at the end of June 2021.
Aside from the additional BPR aid, the B40 group and people affected by loss of jobs will be given the option to obtain an automatic moratorium approval for three months or a reduction in repayment in instalments of 50% for a period of six months on loans. This assistance extends to micro as well as small and medium enterprises (MSMEs and SMEs) too.
This aid will be implemented starting from June 2021 with an allocation of up to RM30 billion, and is expected to benefit more than five million borrowers. It is essentially an extension of the ongoing targeted financial assistances that are already being offered by most banks in Malaysia. Muhyiddin also said that borrowers will need to reach out to their respective banks for more information.
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