Prime Minister Tan Sri Muhyiddin Yassin revealed new incentives in a special stimulus package for small- and medium-sized enterprises (SMEs) today, 6 April
In the special televised address, Muhyiddin announced an additional RM10 billion in the PRIHATIN Package for SMEs to ease current economic difficulties.
He acknowledged the important role that SMEs play, making up 40% of the economy and two-thirds of job opportunities in the country.
From the total, RM7.9 billion has been allocated for the Wage Subsidy programme
This will increase the previously allocated RM5.9 billion to RM13.8 billion.
"The wage subsidy would benefit 4.8 million workers with a monthly income of RM4,000 and below," he said.
He announced that salary subsidies will be given to SMEs as follows:
- RM600 per employee of companies with more than 200 workers
- RM800 per employee of companies with between 76 and 200 workers
- RM1,200 per employee of companies with less than 75 workers
The remaining RM2.1 billion will be given as grants to microbusinesses registered with the Inland Revenue Board (IRB) as of January this year
"The government has allocated a special grant of RM3,000 for every microbusiness, and this will benefit over 700,000 SMEs in the country," said the Prime Minister.
The government had previously allocated RM100 billion to help all businesses in the country, including SMEs:
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