PM Announces RM250B Stimulus Package To Cushion COVID-19 Blow

  • 27 Mar 2020

Prime Minister Muhyiddin Yassin has announced a comprehensive economic stimulus package for the nation to brave through the trying COVID-19 outbreak.

In a special televised broadcast, the premier revealed the People's Economic Stimulus Package (Prihatin), worth a whopping RM250 million, pledging "no one will be left behind". 

Here are some highlights of the stimulus package that you may want to know about: 

  • An additional RM1 billion allocation to the Health Ministry, to purchase equipments and services to fight the COVID-19 outbreak, including to seek medical expertise from the private sector. This is on top of the RM500 million allocated to the Ministy earlier this week. 
  • Additional special allowance of RM200 for those in the police force, army, immigration, and customs department. 
  • An additional one-off payment for the B40 and M40 groups. For households earning below RM4,000, a one-off payment of RM1,600 will be made in two tranches in April and May this year, while for households earning between RM4,000 and RM8,000, a one-off payment of RM1,000 will be paid in two tranches, this month and next month. 
  • Doctors and medical frontliners will also be given additional special allowance until the virus menace is eradicated. 
  •  Students of higher education institutions will also be paid a one-off RM200 aid. 
  • Free internet from April 1 until the end of the Movement Control Order (MCO)
  • Government together with TNB will add an allocation of RM530mil for discounts between 15% and 50% for electricity usage up to a maximum of 600kW a month for six months from the April bill.
  • Insurance and takaful sectors to support the Health Ministry by giving coverage for policy holders to carry out COVID-19 tests at private hospitals or private labs, for up to RM300 each. Besides, the companies will also provide a leeway for those affected by the outbreak to postpone their premium payments for 3 months. 
  • The government will work with NGOs and civil societies to help the elderly, the disabled, the homeless and orphaned kids, to provide them with food, health facilities, and shelter, during this outbreak. 
  • Rent exemption for low cost flat dwellers in urban areas for six months - up from the previous one-month exemption. 
  • Civil servants ranked Grade 56 and below to receive a one-off RM500 cash payment, to be paid out this month. Similar payout will be made to contract workers, and retired civil servants. 
  • Full-time e-hailing drivers to receive a one-off payment of RM500. 

At the end of his speech, Muhyiddin urged for the cooperation from the public to battle "invisible forces" that has caused the current crisis.

You can view his speech below: 

Read his full speech here!

Source: Astro Awani