The Covid-19 Government Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) Assistance Package

(announced on January 18, 2021)

On January 19, 2021, Prime Minister Tan Sri Muhyiddin Yassin has announced the "Perlindungan Ekonomi dan Rakyat Malaysia" (PERMAI) assistance package worth RM15bil which is focused on three main objectives namely - Combating the Covid-19 outbreak, safeguarding the welfare of the people, and supporting the business continuity. Previously, the government had announced four economic stimulus packages worth RM305bil to provide assistance to individuals and businesses affected by the Covid-19 outbreak.

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Latest Malaysia Fuel Price (Petrol  RON95, RON97 & Diesel)

Retail Fuel Prices: Week Jan 16 -Jan 22 2021

Petrol RON 95      RM1.89 per litre (+RM0.05

Diesel                   RM2.05 per litre (+RM0.03

Petrol RON 97      RM2.19 per litre  (+RM0.05)

 

Weekly average Oil prices and the USD/MYR rates

Approximate Average for Week May 07 - May 15, 2020

Oil Price in MYR    RM131 per barrel ( -%

USD/MYR               RM4.33 (+%) 

Brent Oil Futures   USD30.30 per barrel ( -%

Source: investing.com

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Govt assistance | Prihatin BPN 2.0.

additional assistance under the RM10 billion PRIHATIN Supplementary Initiative Package (KITA PRIHATIN)

Bantuan Prihatin Nasional (BPN) 2.0 

  • allocate RM7bil in cash aid under Bantuan Prihatin Nasional (BPN) 2.0

    • RM1,000 each for 3.7 million families in the B40 category 

    • RM500 each for 3.8 million singles in the B40 group 

    • RM600 each for 1.4 million M40 families

    • RM300 each for 1.7 million singles in the M40 group

  • The payments would be made in two batches – one at the end of October this year and another in January next year.

  • The B40 families will receive RM700 each in October and RM300 each in January.

  • no need to apply for the BPN 2.0. The government will channel aid directly to the 10.6 million recipients who have been approved previously.

  • Those who are eligible but never received the BPN, the government will give a chance to appeal and make new applications.

Wage Subsidy Scheme WSP 2.0 

  • the second scheme would be open for companies that were registered with Socso before Aug 31

  • for companies who are experiencing revenue reduction of up to 30% compared to last year 

  • for new applications that have never received assistance under the Wage Subsidy Scheme programme, they will be eligible for subsidies for up to six months

  • wage subsidy of RM600 monthly will be given to a maximum of 200 employees each for three months

  • the applications are open from Oct 1 until Dec 31

Special Prihatin Grant (GKP) 2.0 

  • to help micro businesses that were facing financial difficulties because of the Covid-19 pandemic

  • to ensure more of these micro businesses benefited from the GKP, the government agreed to reopen applications from Oct 1 to 31

  • it would be open to business owners registered with the Companies Commission of Malaysia (SSM), or with local authorities before Aug 31, with payments to be made from Nov 25

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