GKP 3.0 to benefit 1.2 million micro SMEs

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz (pic) said once the GKP database is updated, GKP 3.0 payments would begin to be made in June 2021.

PETALING JAYA: The Prihatin Special Grant (GKP) 3.0 is expected to benefit almost 1.2 million local micro small and medium enterprises (SMEs) with an additional allocation of RM1.2bil.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said once the GKP database is updated, GKP 3.0 payments would begin to be made in June 2021.

“This is expected to benefit almost 1.2 million micro SMEs, ” he said in a statement yesterday. Tengku Zafrul noted each eligible micro SME would receive a one-off GKP 3.0 assistance of RM1,000. Existing recipients of GKP 1.0 and GKP 2.0 would receive an additional payment of RM1,000 without having to re-apply, he added.

For micro SMEs that had never received GKP before, the GKP 3.0 application would be opened online from April 1-15 through the GKP Portal, which is https://gkp.hasil.gov.my/.

“Micro SMEs that have not passed and have not received GKP before still have the opportunity to submit an application for review, ” Tengku Zafrul sad.

Micro SMEs eligible for GKP 3.0 are businesses that meet the micro SME criteria and are also registered with the Companies Commission of Malaysia (SSM), local authorities or the Inland Revenue Board of Malaysia (IRB) as of Feb 28,2021.

Under the Pemerkasa stimulus package, the government remains committed to supporting the business sector, especially local micro SMEs through the GKP 3.0. “It aims to ease the financial burden of micro-SMEs so that they can revitalise their business in this still challenging period, ” Tengku Zafrul noted.

“The total GKP 3.0 will involve an additional allocation of RM1.2bil. Taking into account GKP 1.0, GKP 2.0, additional GKP and GKP 3.0, the total amount of GKP financial assistance that has and will benefit approximately 1.2 million micro SMEs is RM4.78bil, ” he said.