The economy in Malaysia suffered the consequences of the COVID-19 pandemic, with many businesses shutting down, industries failing and workers losing their jobs. In order to reduce the burden, our Prime Minister Tan Sri Muhyiddin Yassin has stated that the government will offer a second round of of Bantuan Prihatin Nasional (BPN), called BPN 2.0 and it is a part of the recent Kita Prihatin Package from the Government.
Bantuan Prihatin Nasional 2.0
Who is eligible for this Bantuan Prihatin Nasional 2.0?
- B40 Households earning RM4,000 and below
- B40 Single 21 years and above earning RM2,000 and below
- M40 Household earning between RM4,001 – RM8,000
- M40 Single 21 years and above earning RM2,001 to RM4,000
When and how much they will get?
BPN 2.0 will be distributed in 2 phases which are in October 2020 and January 2021
Amount for each group
- RM1,000 to 3.7 million B40 households
- RM500 to 3.8 million B40 individuals
- RM600 to almost 1.4 million M40 households
- RM300 to 1.7 million M40 individuals.
How to apply?
No application necessary but based on previous BPN 1.0 eligibility or [Click Here]
Duration of Application?
15 October 2020 – 15 November 2020
Government Announces Wage Subsidy Programme 2.0 is allocated for companies employers and employees in certain industries that are affected economically by Covid 19.
Criteria of recipients:
- Company’s income loss of 30% compared with the previous year
- Max 200 workers and below
- Employers experienced a loss of more than 50% of financial profits since 1 January 2020
- Company registered with SOCSO by 31 August 2020
- Benefit 1.3 million employees
Amount and duration of this programme:
- A total of RM2.4 billion has been allocated
- 3 months wage subsidy of RM600
- Employers recently registered to the programme are qualified to 6 months
- Application starting from 1 October until 31 December 2020
How to apply?
- Employers to make the Application via PERKESO
GKP is a one-off financial assistance provided to qualified Micro-SME to reduce their financial burden due to COVID-19
Who is Eligible to Apply for GKP?
- A Malaysian citizen
- Running a micro-enterprises with: -Total sales or annual turnover less than RM300,000
-Number of employees not more than 4 (excluding owners)
- Registered with either LHDN or Local Authority or SSM before 31 August 2020
- Still running an active business
- Data will be verified with departments approved by Malaysia’s Ministry of Finance
Amount of GKP?
- One-off payment of RM3,000
Duration of application?
- From 1 October 2020 to 31 October 2020
How to apply?
- Only online application via GKP portal is accepted.
- 15 November 2020
When Will the Payment Be Made?
- 25 November 2020
So make sure to inform your family and friends about the new government initiatives that may help reduce our financial burden!