KUALA LUMPUR – The Wage Subsidy Programme under the Social Security Organisation (Socso) will be extended a month with a limit of 500 workers per application, said Prime Minister Tan Sri Muhyiddin Yassin.
This applies to all economic sectors affected by movement restrictions imposed by the government.
He said the extension is set to benefit 2.5 million workers and more than 200,000 employers.
In addition, employers registered with the Human Resources Development Fund (HRDF) will be given an exemption on levy fees next month.
“At the same time, workers can also increase their knowledge and skills through the e-LATih learning programmes for free, which involves more than 400 modules and skills courses,” he said in a special televised address to the nation this evening.
On supporting the sustainability of businesses, which is the last of three main objectives of the economic assistance announced in light of the tightened lockdown that starts tomorrow until June 14, Muhyiddin said the government will assist the cash flow of small and medium enterprises (SMEs) by expanding the Prihatin Special Grant (GKP) from RM500 to RM1,500.
The aid, he said, will be given to some one million SMEs and micro-businesses, which will receive RM1,000 in mid-June and another RM500 in July.
He said traders who wanted to obtain micro-credit financing can do so with the RM1.5 billion allocated this year by Bank Simpanan Nasional (BSN), the National Entrepreneurial Group Economic Fund (Tekun), Majlis Amanah Rakyat (Mara), SME Corp, and The Malaysian Islamic Economic Development Foundation (YaPEIM).
He added that Bank Negara Malaysia still had RM5 billion balance on a variety of loans, and will increase the facilities for affected SMEs by RM2 billion, totalling RM7 billion in loans with interest as low as 3.5%.
For taxi, rental cars and school bus drivers, Muhyiddin said they will receive a one-off special assistance of RM500, which is set to benefit 17,000 tourist guides, 40,000 taxi drivers, 11,000 school bus drivers, 4,000 travel bus service owners and 62,000 rental car drivers, as well as those in e-hailing services.
Aid for registered drivers involving an allocation of RM68 million will be given in July.
He also said the Inland Revenue Board (IRB) will consider an appeal for penalties and deferred payments of penalties to next year, as well as to provide rescheduling of outstanding tax payments for affected taxpayers and businesses.
“The Companies Commission of Malaysia (SSM) has also agreed to extend the submission of financial statements, dates of annual meetings for public companies listed on Bursa Malaysia and a moratorium on fines for late submission of statutory documents,” he said.
“SSM will also exempt fees to renew business licences until December 31 for micro SMEs, as well as sole proprietorship and partnership businesses.”
He added that the Temporary Measures For Reducing the Impact of Coronavirus Disease 2019 (COVID-19) 2020, or Act 829, will be improved to assist affected individuals and businesses to extend protection from fulfilling contractual obligations to December 31.
“The government will also provide free mediation or mediation services assistance through the Covid Mediation Centre to all individuals or businesses, regardless of background.”
Moreover, hotels, travel and tourism industries, shopping complexes, convention halls and airline offices are qualified to obtain a 10% discount on electricity bills for three months from July until September this year, Muhyiddin said.
Muhyiddin also announced special deductions for building and unit owners until December 31 if they offer rental reductions of at least 30% of the current rental rate for their tenants.
He also said the tourism tax and service tax exemption for hotel operators will continue until year-end.
“There are still various stimulus package programmes worth more than RM100 billion, which are still under implementation.
“In terms of direct expenditure from the government, the Covid-19 fund has been approved with a ceiling of RM65 billion.”
He said a total of RM38 billion from the fund was spent last year until April 2021, another RM10 billion has been distributed, while the remaining RM17 billion will be spent soon.
Muhyiddin said initiatives from the fund included Phase 2 of the Prihatin package implemented in May involving RM2.7 billion given to 8.4 million recipients, and Phase 3 worth 2.4 billion scheduled for September.
Muhyiddin added that wage subsidy and training programmes, as well as employment incentives, will help secure jobs and spur 500,000 new ones this year.
Finally, he said the implementation of small projects with an allocation of more than RM2 billion will be spent on class G1 to G4 contractors for repairs on public infrastructure and facilities. – The Vibes, May 31, 2021
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