Malaysia

PM to address tackling ringgit drop tomorrow: Ahmad Maslan

Deputy finance minister adds Rahmah cash aid payout to be done before Aidiladha

Updated 3 years ago · Published on 18 Jun 2023 3:22PM

PM to address tackling ringgit drop tomorrow: Ahmad Maslan
Datuk Seri Ahmad Maslan says BSN is allocating RM900 million for the Kasih-Belia Micro Scheme as well as small traders and women micro schemes this year. – Bernama pic, June 18, 2023

JOHOR BARU – Prime Minister Datuk Seri Anwar Ibrahim is expected to announce several matters regarding the country’s current economic affairs, including mitigating the depreciation of the ringgit, tomorrow.

Deputy Finance Minister I Datuk Seri Ahmad Maslan said the announcement would be made by the prime minister at the launching of a programme at the Securities Commission in the afternoon.

“...around 12 noon (tomorrow), the prime minister will launch a programme there, and he is expected to make certain announcements related to economic matters. 

“So, we wait for tomorrow,” he said at a press conference after visiting Wisma Bank Simpanan Nasional (BSN) Johor here today.

Also present was BSN Johor director Mohamad Zulkarnain Ismail.

The Pontian MP said this when asked to comment on the ringgit’s depreciation and the Finance Ministry’s plan to mitigate the matter.

Meanwhile, Ahmad said the third phase of the Rahmah Cash Aid (STR) would be paid before the Hari Raya Aidiladha celebration, involving a total of 8.4 million recipients with an allocation of RM2.14 billion.

He said the three groups that would receive STR are households, involving a total of 3.9 million people, elderly people without a partner, totalling 1.2 million people, and singles, totalling 3.3 million people.

The deputy minister said the STR distribution by the unity government is the largest in history compared with all the series of such assistance given by the previous government.

This shows that appeals for individuals who are not selected could be made at the counter of the Inland Revenue Board or online starting July 1, he noted.

Meanwhile, Ahmad said BSN is allocating RM900 million for the Kasih-Belia Micro Scheme as well as small traders and women micro-schemes this year.

Therefore, he said the public is encouraged to use the opportunity to obtain financing between RM5,000 to RM50,000.

He said a total of RM1.6 billion for the micro, small and medium enterprise financing scheme has been distributed to 72,000 beneficiaries nationwide since 2020 until now. – Bernama, June 18, 2023

Related News

Business / 4mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 5mth

Ringgit retreats to 4.00 versus the US Dollar amid West Asia ceasefire uncertainties

Business / 5mth

BNM ensures orderly financial markets amid global uncertainties

Malaysia / 6mth

Middle East conflict: Brace for more expensive imports - Tengku Zafrul

Places / 9mth

Planning a year-end break? The Land of the Rising Sun beckons

Malaysia / 9mth

Ringgit hits RM4.16 against US dollar, emerging as Asia's best-performing currency - Anwar

Spotlight

Malaysia

Penang CM defends move by housing board, says enforcement is last resort

By Ian McIntyre

World

Anak Krakatau’s six eruptions recorded

Malaysia

Delivery rider's compassion turns RM14.50 meal into wave of public generosity

Malaysia

Sanusi’s gambling stance puts PAS manifesto under scrutiny

By Alfian Z.M. Tahir

Malaysia

Zahid’s game plan is opening up

Malaysia

Chew Jetty fire: Business owners lose everything in the blink of an eye

By Ian McIntyre

Malaysia

SMART Team leaves for Nepal today as search for 55 Malaysians continues

Diary

Mother Teresa - one of the foremost humanitarian figures of the 20th century died today, 29 years ago

You may be interested

Malaysia

Electoral momentum, political pressure may be behind Zahid’s push for early polls, says analyst

By Alfian Z.M. Tahir

Malaysia

UiTM student dies, eight hospitalised after heat-related incident

Malaysia

US Embassy denies attempt to influence Malaysia’s political leadership

Malaysia

The Ah Long epidemic: How rigid banks and a missing safety net fuel Malaysia’s hidden poverty

Malaysia

Driver allegedly failed to notice cyclists before fatal car crash

Malaysia

SMART Team leaves for Nepal today as search for 55 Malaysians continues

Malaysia

Haze emergency possible if air pollution index hits 400

Malaysia

Leave PAS-UMNO seat talks to party presidents - Johari