Prime Minister Tan Sri Muhyiddin Yassin just announced an economic stimulus package valued at RM35 billion to help Malaysian citizens get through trying times
Dubbed Pelan Jana Semula Ekonomi Negara or 'PENJANA', RM10 billion from the total will be a fiscal direct injection by the government.
Meanwhile, RM9 billion is dedicated to supporting three million employees in the country.
During a special live address today, 5 June, the Prime Minister stressed that the government's focus is to revive the Malaysian economy.
Here's what the PENJANA economic package entails for individuals:
- Malaysians over the age of 18 and earning less than RM100,000 annually will receive RM50 worth of e-wallet credit. Besides that, you can also get another RM50 in value through vouchers, cashback, and discounts by e-wallet merchants.
- Individual income tax exemption of up to RM5,000 for employees who receive a handphone, notebook and tablet from their employer.
- Special individual income tax relief of up to RM2,500 on the purchase of handphones, notebooks, and tablets.
- Social Security Organisation (SOCSO) will provide coverage for workers involved in accidents while working at home under the Employment Injury Scheme.
- eVouchers of RM800 per household for mobile childcare services to be utilised from now until the end of August 2020.
- There will be a RM1,000 increase in income tax relief for parents on childcare services expenses for the Year of Assessment (YA) 2020 and 2021.
- The government is introducing an unlimited monthly travel pass at RM30 for use on all rail services (MRT, LRT, Monorail), BRT, RapidKL buses, and MRT feeder buses.
- People with disabilities and single mothers registered under the Ministry of Women, Family, and Community Development (KPWKM) will receive a RM300 one-off payment.
- The government will double the existing allocation for the PEKA B40 Programme to help fund medical treatments for low-income communities.
- Participating telecommunication companies will provide Malaysians with 1GB of free internet each day between 8am and 6pm, mainly for educational purposes.
The government also recently published the complete standard operating procedure (SOP) for when schools reopen: