Malaysia announces $57.78 billion stimulus package to deal with coronavirus fallout

Prime Minister Muhyiddin Yassin announcing the stiumilus package

PUTRAJAYA: Malaysia’s government will channel RM25 million to the vulnerable groups through the RM250 billion ($57.78 billion) economic stimulus package announced on Friday by Prime Minister Muhyiddin Yassin.

The funds are to be channelled towards supporting people and businesses most adversely impacted by the economic disruption from the Covid-19 outbreak and the prime minister said the groups included elderly and children in shelter homes, handicapped, homeless and Orang Asli.

“The government will work with related non-governmental organisations and social entrepreneurs to provide aid such as food, healthcare items and shelter for them,” he said.

The government will also extend the rental payment exemption for the People’s Housing Project (PPR) from one month to six months with a total cost of RM3 million to be borne by the government, he added.

“The exemption will benefit 3,636 PPR units (rented or transit) under the purview of the Housing and Local Government Ministry,” the Premier said.

Residents in the 4,649 rent-to-own PPR units are permitted to delay their monthly payment for six months from April to September, which would cost the government RM5.7 million, Muhyiddin said.

For public housing, the Kuala Lumpur City Hall would provide the same exemption that would benefit more than 40,000 tenants.

Muhyiddin also called on state governments and local authorities to grant the same exemptions to ease the people’s burden.

BERNAMA