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12 Things You will Need to Know about the RM250 Billion Stimulus Package.

12 Things You will Need to Know about the  RM250 Billion Stimulus Package.
Mar 27, 2020
4:25 pm

So our prime minister Muhyiddin Yassin made an announcement @ around 3.00PM today about the RM250 Billion Stimulus Package 2020.

If you didn't manage to catch it on TV or online, I'll summarize the entire announcement in just 12 highlights below.

Muhyiddin Yassin to be sworn in as 8th PM of Malaysia tomorrow ...

1. Cash to Households

Research: Malaysian households earning RM2,000 may have only RM76 ...

It goes as follows:

  1. RM1,600 cash to households RM4,000 or below
  2. RM1,000 cash to households RM4,000- RM8,000
  3. RM800 cash to single individual of 21 years old and above with earnings RM2,000 or below
  4. RM500 cash to single individual 21 years old and above with earnings RM2,000-RM4,000

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2. One-off Payment to Students

Foreign (UK, Australian, etc) Universities in Malaysia

Students who are studying in higher learning institutions (college, matriculation, etc) will receive a one-off RM250 per person.

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3. Private Retirement Scheme

Private Retirement Scheme (PRS) – Choon Hong

EPF holders are allowed to withdraw from private retirement scheme of up to RM1,500.

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4. Rent-Free for 6 months.

What to do if your tenant won't pay rent on time | Recommend.my

Government housing & all premises under the federal government (Perumahan Awam, Projek Perumahan Rakyat, etc) will be Rent-Free for 6 months.

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5. Electric Bill Discounts

Research houses trim earnings outlook for TNB | Money | Malay Mail

With the extension of the MCO, therefore the duration of the TNB Bill Discount promotion will extended as well.

We are unsure if there's an additional discount on top of what is already given.

Click HERE to read about it.

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6. Free Internet

PM: Free internet and additional electricity discounts throughout ...

Free internet for existing customers starting from 1 APR 2020 until the end of MCO.

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7. RM500 Cash One-off

Bayaran khas RM500 untuk pesara 20 Mac ini | Harian Metro

One-off RM500 cash per person - for civil servants grade 56 and below.

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8. RM600 for Employees

Penjawat awam terima bantuan khas RM500 minggu depan | Berita ...

RM600 per person for employees earning RM4,000 and below - provided their employer suffered 50% decline in earnings or more since 1 JAN 2020.

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9. Cash for eHailing Drivers

10 Things You've Always Wanted To Ask Your Grab Driver But You Shy

One-off RM500 cash to e-hailing drivers.

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10. Special Relief Fund

M'sia Bank Offer COVID-19 Financial Relief Plan For Those Who ...

  • RM5 Billion for Special Relief Fund
  • RM6.8b under Kemudahan Semua Sektor Ekonomi
  • RM700m under Micro Credit Scheme
  • etc.

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11. Income Tax Delayed Payment

LDHN内陆税收局宣布报税截止延长2个月! | One FM

Delay in payment of income tax by all SMEs for 3 months starting from 1 APRIL 2020.

Previously, only SMEs involved in tourism is granted delay in income tax payment for 6 months starting from 1 APRIL 2020.

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12. Projects under Budget 2020

Optimism over construction projects in Budget 2020 | The Star Online

Government reiterated that all projects under Budget 2020 inclusive of ECRL, MRT2, and NFCP are to continue as planned.

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“We are a nation at war with invisible forces,” says Muhyiddin.

Coronavirus: Malaysia extends lockdown to April 14 as PM Muhyiddin ...

“The situation we are now facing is unprecedented in history. This government may not be the government that you voted for, but I want all of you to know that this government cares for you."

The prime minister also added that an additional RM1 Billion would be allocated to the Health Ministry on top of the RM500 Million previously announced - while assistance would be sought from private hospitals.

Health Ministry: All seven new Covid-19 cases linked to patient 26 ...

In addition, he also said the special allowances of doctors, nurses and health workers on the front line of RM400 - RM600 per month will begin from 1 APRIL 2020 until the crisis is resolved.

Special allowance of RM200 for army and police personnel, as well as customs and RELA staffs involved on the front line, would continue.

Armed Forces vets offer to help frontliners battle Covid-19 ...

We will update you guys on more as when we hear more.

Stay tuned guys.

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