13th May 2020 - 2 min read
The Ministry of Finance aims to complete all payments for the second phase of Bantuan Prihatin Nasional (BPN) payments by this weekend at the latest.
According to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, the second phase of payments have already begun, involving 5.79 million recipients and RM2.63 billion in payments. “Out of the total 8.3 million recipients approved, the payment achievement for Phase 1 was at 96% while Phase 2 is ongoing and is at the 49% level,” said Tengku Zafrul.
For recipients who do not have bank accounts or have met with the status “Failed to Be Credited”, cash payments can be made from Bank Simpanan Nasional from 14 May onwards. The minister of finance said that this is estimated to involve 800,000 recipients with an allocation of RM300 million.
Meanwhile, those who have applied for the BPN aid but have been rejected can submit their appeals to Lembaga Hasil Dalam Negeri (LHDN) until the end of the month.
The BPN financial aid was announced as part of the Prihatin Economic Stimulus Package, and is offered to individuals who belong to the B40 and M40 income groups. The first phase was disbursed earlier in April and the ongoing second phase, which makes up the final round of BPN payments, began last week on 4 May.
(Source: The Sun Daily)
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)