Ministry studying efficacy of stimulus measures

  • Nation
  • Thursday, 06 Aug 2020

THE Finance Ministry is studying the efficacy of the initiatives announced in the government’s economic stimulus packages and will be introducing immediate steps to improve them.

The Finance Ministry said it was to ensure that the target groups, affected by the Covid-19 pandemic, would be able to get help in a more “effective and efficient way”.

“The Unit for the Implementation and Coordination of National Agencies on the Economic Stimulus Package (Laksana) has been set up and will be responsible to look into the matter, ” it said in a written reply to a question by Datuk Rozman Isli (Warisan-Labuan) who asked what were the measures taken by the government to help families whose breadwinners had lost their jobs due to the pandemic.

It said the government had launched the Prihatin and Penjana economic stimulus packages, amounting to RM295bil, containing various initiatives to aid those who were financially affected.

The initiatives included one-off cash aid of between RM500 and RM1,600 via the Bantuan Prihatin Nasional, six months moratorium on bank loan repayments, withdrawal of RM500 monthly from the Employees Provident Fund, as well as the employment insurance scheme under the Social Security Organisation for those who had lost their jobs.

It said among others, steps to alleviate the financial burden of households that operated small businesses were also initiated via incentives such as a one-off aid of RM3,000 given through the Special Prihatin Grant.

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