M’sia Economic Stimulus Package


M'sia Economic Stimulus PLan
M’sia Economic Stimulus Package
Image adapted from: Behance & Today Online

With an increasing number of cases and an extended Movement Control Order (MCO), many in Malaysia have been worried about how to make ends meet if this plight doesn’t improve.

In a timely announcement on 27th March 2020 at 3PM, Prime Minister Tan Sri Muhiyiddin Yassin outlined an Economic Stimulus Package valued at RM250 billion that’s meant to benefit people from all walks of life in Malaysia. Here are some highlights from his speech: 


Up to 50% discounts on electricity bills


TNB
Image credit:
TNB 

Tenaga Nasional Berhad (TNB) announced on 23rd March that there will be a 15% discount on those most affected by COVID-19, and a 2% discount for residential, commercial, industrial and specific agriculture. 

And with most of us staying home and keeping busy and comfy inside, we’re glad to hear that the government has allocated an additional RM530 million for tiered discounts between 15% to 50%, depending on electricity usage.

TNB benefits tweet
Image adapted from:
@MuhyiddinYassin


Financial support for everyone, including e-hailing drivers


E-hailing benefits
Image credit:
Grab MY

PM Tan Sri Muhiyiddin Yassin made sure to mention that “No one will be left behind” in his speech. And reflecting that, there will be increased allowances for medical and government workers, as well as one-off financial relief for individuals including low-income households, students, and even e-hailing drivers

In the previous economic package, there were 120,000 e-hailing drivers in Malaysia who were able to claim RM600 one-off. Now they will be able to receive an additional RM500 for a total of RM1,100, as RM60 million has been added onto their stimulus package.

E-hailing benefits tweet
Image adapted from:
@MuhyiddinYassin


6 months free rent for those living in PPR


PPR benefits
Image credit:
Durian Property

It was initially announced that those living in People’s Housing Project (PPR) housings will have their rents waived for a month. But it has now been extended to 6 months so residents in these homes can focus on paying for essentials during this time. 

PPR benefits tweet
Image adapted from:
@MuhyiddinYassin


Free internet for the duration of MCO


Internet benefits

There’s no doubt that most of us have been worried about running out of internet data as we stream our favourite TV shows while staying at home. So you’ll be glad to know that Malaysians will now be able to have access to free internet (1GB/day) from 1st April 2020. 

This comes with an added allocation of RM600 million to telecommunication companies.

Internet benefits tweet
Image adapted from:
@MuhyiddinYassin


Economic Stimulus Package for COVID-19


These measures taken by the government to alleviate the burden of the rakyat is a welcomed relief as we move into an extended MCO period. We can continue to stay at home and help flatten the COVID-19 curve without having to worry too much about our finances during these difficult times. 

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